Current News

by C.B. Hall Vermont Business MagazineTen of Williston-based AllEarth Rail's newly purchased, self-propelled passenger rail cars arrived in Vermont last week and into Montpelier today, bringing AllEarth's intentions of initiating a private commuter-rail service in the Burlington area one step closer to reality. AllEarth president Charlie Moore told VBM that he's looking forward to showing the public what the cars can do in a demonstration run this fall.

Vermont Business Magazine The Vermont Public Service Department has recommended that the Vermont Public Utilities Commission limit GMP’s proposed rate increase to just 1.68%. Earlier this year in April, Green Mountain Power filed for a rate increase of 5.33%. The Department’s recommendations include removing power purchase costs of approximately $6.5 million, lowering taxes, depreciation and return on capital investment by roughly $13.9 million and making other miscellaneous adjustments totaling $1.3 million. The DPS acts on behalf of the public in rates cases. The PUC is the regulator and reviews the filing and input from stakeholders and the public before it makes a final determination on rates.

Vermont Business Magazine This past week, cell service officially arrived in downtown South Strafford. Thanks to new microcell technology being piloted in Vermont by CoverageCo, people on either side of Coburn’s General Store can now use cell phones to talk, text, and access 911 services. CoverageCo founder Vanu Bose said, “When we set out to prove that innovative partnerships and new technology could solve the challenge of rural cell coverage, we knew we needed a state willing to try something different. Vermont has proven to be a great state for our microcell pilot project, and I’m happy that from South Strafford to Canaan, we’re seeing real success.”

CoverageCo installs and maintains microcell devices, called “radios,” on poles or buildings that use very little energy and provide cell service in a half mile radius. The radios work with Verizon, T-Mobile, and Sprint customers, though AT&T has decided not to participate.

Vermont Business MagazineThis year, 270 more low-income homes in Burlington and South Burlington signed up for Internet Essentials, the nation’s largest high-speed internet adoption program. With the program on the rise in VT, as well as all over the country, Comcast increased the program’s Internet speeds and added free access to 18 million Xfinity WiFi hotspots, helping low-income families stay connected in and out of their homes for possibly the first time.

by John McClaughry Democrats and Republicans in Congress are in full combat over the future of ObamaCare. Three of the key issues they’re debating are Medicaid expansion, the individual mandate, and the Cost Sharing Reduction. Medicaid is a joint Federal-state program to provide essentially free health care to the poor. The Feds cover from 50 to 74% of the overall costs, the various States 26 to 50%. The ObamaCare Act forced all states to set increased income levels for Medicaid eligibility, at the pain of losing all Federal Medicaid funds. The Supreme Court held 7-2 that it was unconstitutional for the Federal government to force states to pay for their share of the increased Medicaid population by discontinuing all Federal support.

Vermont Business Magazine The national robocalling nightmare rose to 2.59 billion calls received in July, a 2.7% increase over June and a 7.5% increase over the same month last year, bringing the total to 17.2 billion robocalls received nationwide in the first seven months of 2017. Vermont had the fastest one-month growth of any state at 18 percent. Notably,Texaswas blitzed by a record-breaking 307.9 million calls in July, or 11 robocalls per person, marking the most robocalls received by any state in a single month since recordkeeping began inJune 2015. In addition, 40 of the 50 Most Robocalled Cities in America posted month-on-month increases in robocalling volumes in July.

Vermont Business MagazineThe Rutland Region Chamber of Commerce is pleased to announce the winners of the Best Taste Awards, Best Display Award and People’s Choice Award at the 36th Annual Chamber Winter In August Celebration held on August 8, 2017. The event, which moved back outside to Merchants Row in Downtown Rutland, was sponsored by Davis & Hodgdon Associates, CPA's, PLC; with support from Killington 14 TV; Casella Waste Systems, Foley Linen and Celebration Rentals. The award judging panel was made up of local foodies Gordon Dritschilo, Kathryn McGrath and Matt Anderson. The 9 criteria included everything from complimenting flavors to appeal to the eye. Restaurants were rated on a weighted point system and scored accordingly. Attendees voted by ballot throughout the evening for the People’s Choice Award.

by Seth N Blanchard Many adult children are called upon to help their aging parents as life changes set in, yet only 65 percent of siblings report talking about money with one another, according to research by Ameriprise Financial. While only 15 percent of siblings have conflicts over money, when siblings do spar over finances, it’s usually about their parents’ situation. Financial conversations between siblings become inevitable, as brothers and sisters manage their parents’ money matters, including estate planning, healthcare, retirement income and wills.

In the event that you have shared responsibilities with your siblings down the road, it’s important to make sure your family is on the same page. Here are some tips to help you and your siblings have civil conversations about money-related family matters.

Vermont Business Magazine Revenue collections for the month of July, the first month of the new fiscal year, show a continued weakness in the Personal Income and Sales taxes. This under-performance, typical of fiscal 2017, comes despite lowered expectations. General Fund revenues collected for the month totaled $102.32 million, -$0.62 million below the consensus revenue target adopted by the Emergency Board on July 21, 2017, according to Secretary of Administration Susanne Young.

Vermont Business Magazine Gray Television, Inc (NYSE: GTN and GTN.A), which bought WCAX-TV in Burlington from the Martin family last spring for $29 million,hasannounced record-setting results of operations for the period endedJune 30, 2017, including record revenue, record net income and record Broadcast Cash Flow. Gray experienced accelerating market trends throughout the second quarter of 2017. As a result, its operating revenue and political advertising revenue significantly exceeded the high end of the guidance ranges that we had provided for this period.

Vermont Business MagazineNow that 10 entrepreneurs have won their local pitches, they'll gear up for the statewide pitch-off in October. The fourth annual FreshTracks Road Pitch, a five-day motorcycle tour of Vermont in which a gang of more than 60 “business bikers” (comprised of investors, entrepreneurs and business advisers) ride around the state, stopping in 10 towns to listen to entrepreneurs pitch their business concepts, was held July 31st through August 4th 2017.

Vermont Business Magazine The results from the recent Vermont small business economic outlook survey indicate that, not surprisingly, key issues for Vermont businesses include health insurance costs, taxes, and finding qualified employees. These issues were identified for all Vermont businesses surveyed, regardless of size and county.Nearly 150 Vermont businesses completed the latest semi-annual economic survey in July regarding the outlook of Vermont’s small- to medium-sized businesses. The survey, presented by Davis & Hodgdon Associates CPAs and the Vermont Chamber of Commerce, revealed that business owners inside and outside of Chittenden county share a slightly increased level of optimism about the state’s economy. There is also a continued desire to see improvement in Vermont’s business climate and tax laws.

FULL RESULTS BELOW