Current News

Vermont Business Magazine Vermont Housing Finance Agency Executive Director Sarah Carpenter announced Governor Phil Scott has appointed Thomas SLeavitt of Waterbury Center to VHFA's Board of Commissioners.Leavitt, has been President and Chief Executive Officer of Northfield Savings Bank since 2014. Prior to Northfield Savings Bank, Leavitt was President and CEO of MountainOne Financial in North Adams, MA, and before that he was on the senior management team of Merchants Bank in Vermont for 16 years.

He serves on the Boards of Norwich University Applied Research Institutes, ECHO Leahy Center for Lake Champlain, and the Flynn Center. He is an active member of the Vermont Financial Literacy Commission.

Vermont Business Magazine A Vermont swift water rescue team is deploying to Texas to assist in the response to Hurricane Harvey. Vermont Task Force 1 Swift Water Rescue Team will perform evacuations and rescues in flooded areas. The deployment is through the Emergency Management Assistance Compact (EMAC) at the request of the Texas Division of Emergency Management. The mission will last 12 days, including two days to drive each way between Vermont and Texas and eight days on ground in the hurricane zone.

Governor Scott recognizes members of VT Task Force #1 Swift Water Rescue Team in Colchester as they prepare to help those in Texas impacted by Hurricane Harvey. State photo.

Vermont Business MagazineAccuWeatherpredicts Hurricane Harvey, which has wreaked havoc in Texas, to be the most costly natural disaster in United States history. Remnants of which are expected to reach Vermont this Sunday.DrJoel NMyers, founder, president and chairman of AccuWeather, and sometimes called the "father of commercial meteorology" stated, "This will be the worst natural disaster in American history. The economy's impact, by the time its total destruction is completed, will approach $160 billion, which is similar to the combined effect of Hurricanes Katrina and Sandy. This represents a negative impact on the economy of 8/10 of one percent of the gross national product or GDP. The GDP is $19 trillion currently. Business leaders and the Federal Reserve, major banks, insurance companies, etc. should begin to factor in the negative impact this catastrophe will have on business, corporate earnings and employment.

Vermont Business Magazine A new report conducted by Medicare Health Plans shows the per capita number of nurses and physicians in America.Vermont ranked among the best states for health care professionals. The report suggests that Vermont's health care professionals are among the least over-worked in the nation.

Vermont Business Magazine The Vermont Chamber of Commerce announced Thursday the selection of retired Rear Admiral, United States Coast Guard Reserve, and Norwich University President, Richard W Schneider as its 2017 Citizen of the Year. Schneider’s contributions to Vermont will be celebrated at an awards dinner on Thursday, November 16 at the DoubleTree Hotel in South Burlington.

Dr Schneider was selected by the Vermont Chamber of Commerce for the Citizen of the Year Award for his extensive community leadership and continual devotion to the betterment of Vermont.

Vermont Business Magazine Frederick Morin, MD, announced today that next year, he will step down as dean of The Robert Larner, MDCollege of Medicine at The University of Vermont once a successor has been named. Morin became the College’s 17th dean 10 years ago, on August 25, 2007. “Rick Morin’s accomplishments at UVM are truly extraordinary,” said UVM President Tom Sullivan. “His creativity, persistence, and strong leadership have created a legacy for the Larner College of Medicine that will last for generations. I will be forever grateful for his remarkable leadership of the College and his many contributions across the University.”

Vermont Business MagazineFrom healthcare reform to paid leave, major legislation on such issues at the federal level may be far off as Congress likely pivots its focus to tax reform and a government spending bill. With the federal regulatory picture uncertain, many state and local governments are moving ahead with their own legislation to advance such initiatives in their communities. Vermont, the Northeast and West Coast statesare among those seeking more employee coverage.

Vermont Business MagazineCastleton University recently received word from the office of Vermont Senator Patrick Leahy that its TRiO Upward Bound program has been funded for five more years to serve 63 additional high school students in Washington County, New York attending the target schools of Granville High School, Hartford High School, Salem High School, and Whitehall High School.

Vermont Business Magazine Picture a Vermont farmer. Does a grizzled, seventh generation dairyman come to mind, Holsteins and silo in the background? A new $180,000 Challenge Grant from the National Endowment for the Humanities to a consortium that includes The University of Vermont and three partners aims to complicate that image. The matching grant program will use comic books and digital storytelling to spur dialog and deepen understanding of the state’s changing agricultural community.

by Louis Josephson, PhD Vermont is fortunate to have an established system of outpatient care for people who are recovering from opioid addiction. In fact, our state’s Hub and Spoke system has been nationally recognized as a model for other states struggling with the current opioid epidemic. Hub and Spoke has been in place in Vermont since 2012. To understand its basic structure, Hubs are opioid treatment programs located across the state. They provide daily dosing of medications like buprenorphine (a medicine that lessens the effects of physical dependency to opioids, such as withdrawal symptoms and cravings).

Spokes are office-based physicians who prescribe buprenorphine to patients who have graduated from Hubs. Both aspects of the program involve the supervised administration of medications combined with counseling and behavioral therapies.

by Gabriel C Lajeunesse, JD Next week, we observe Labor Day, a celebration of the American worker. You work hard your whole life with the hope that your efforts will ultimately allow you to achieve your financial goals, such as a comfortable retirement. But for that to happen, you may need to apply some of the lessons of the workplace to your efforts as an investor.

So, what are these lessons? Here are a few to consider:

Vermont Business MagazineThe Vermont Department of Taxes continues its outreach with a come-forward program for individuals who may not know what Vermont Use Tax is and when it is due. Use tax is due when a seller does not charge the buyer Vermont Sales Tax on an item that is taxable in Vermont. Taxable items sold over the internet, by mail, by phone, or bought out-of-state and used in Vermont generally qualify. Use tax is not a new tax. It has been in effect since Vermont established a sales tax in 1969. The Tax Department is offering a grace period on penalties and interest until October 31.

Despite many Vermonters making purchases online or other places that do not charge sales tax on taxable items, use tax is not widely understood. Therefore, the department has recently started an educational letter campaign to increase awareness and allow taxpayers an opportunity to pay use tax they owe.