Current News
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Vermont Business Magazine Northern Power Systems Corp(TSX:NPS) of Barre, a next generation renewable energy and energy storage technology company known for its wind energy systems, has announced financial results for its second quarter endedJune 30, 2017. Revenues for the three months ended June 30, 2017, were $17.8 million, compared to $8.7 million in the second quarter of 2016, and $6.2 million in the first quarter of 2017.GAAP net income for the second quarter of 2017 was $0.9 million, compared toa net loss of $2.5 million in the prior year second quarter, and a loss of $1.2 million in the first quarter of 2017.
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Vermont Business Magazine As the Vermont State Treasurer’s Office prepares to sell approximately $100 million in general obligation bonds, Treasurer Beth Pearce and Governor Phil Scott were notified that Vermont has maintained the highest bond ratings in the Northeast, and among the highest in the US. The reaffirmed ratings came after Governor Scott and Treasurer Pearce led members of the Administration and Treasurer’s Office to meet with each of the rating agencies in New York to review Vermont’s economy, finances and fiscal outlook. As part of a rating review for an upcoming bond sale, all three agencies maintained their previous high rating with a stable outlook.
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Vermont Business Magazine Walmart and the Walmart Foundation today announced that the most recent cycle of grants included $145,000 for nonprofits in Vermont. In the last year, Walmart and the Walmart Foundation gave more than $465,000 in cash and in-kind donations to support organizations and programs in Vermont.
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byMike SmithThe Vermont Department of Public Safety has earned two reputations of late — one good and the other bad. First, the good reputation: The department recruits and employs dedicated public servants who are willing to put themselves in harm’s way to protect us. Every Vermonter should be grateful for their service.
On the other hand, there’s the not-so-good reputation. Those in leadership positions at the department have gained a reputation in recent years of being less than transparent, even evasive, when it comes to releasing information to the public.
Unfortunately, if the bad reputation is allowed to continue, the actions of those few will ultimately tarnish the shining reputation of many.
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Vermont Business Magazine USSenatorBernie Sanders (I-Vermont)on Mondaywill make stops in Franklin County. He will tour Northern Tier Center for Health (NOTCH), a federally qualified health center in Richford, and meet with staff. In StAlbans, Sanders will hold a senior town meeting to discuss the serious issues facing people in Vermont and throughout the United States. In the afternoon, Sanders will meet with dairy farmers in East Fairfield.
Monday, Aug. 14
What:Tour NOTCH, a federally qualified health center
When:10 a.m.
Where:44 Main St.; Richford
What:Senior town meeting
When:12 p.m.
Where:Franklin County Senior Center; 75 Messenger St.; St. Albans
What:Meet with dairy farmers, Paul and Linda Stanley
When:2 p.m.
Where:864 Lawyer Road; East Fairfield
Source:BURLINGTON, Vt., Aug. 14 – Sanders
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Vermont Business MagazineThe following statement is from UVM President Tom Sullivan, which was distributed to the university community Sunday evening regarding the tragic events in Charlottesville, VA, Saturday.
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Vermont Business MagazineVermont State Treasurer Beth Pearce today announced that the State of Vermont has reached an agreement with People’s United Bank, NAto provide core banking services. The contract is expected to generate savings that will accrue year over year.
“At the Treasurer’s Office, we do frequent request for proposals to obtain the best value for Vermont taxpayers,” said Treasurer Beth Pearce. “The Treasurer’s Office maintains a complex cash management system to process short-term investments, revenue streams and expenditures. After an exhaustive review, we determined that People’s United Bank provided the best value and lowest cost service to the State and Vermont’s taxpayers.”
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Vermont Business Magazine In the fall of 2016, Nancy Cathcart was preparing for long-needed bilateral knee replacement surgery when she was diagnosed with ovarian cancer. The Board and staff accommodated her leave of absence and part-time status through treatments. As she approached another extended leave of absence for knee replacement surgery, she made the decision to resign her position to focus on her healing and recovery.
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Vermont Business Magazine The Green Mountain Care Board (GMCB) announced this week its premium rates for Blue Cross and MVP, as well as releasing its list of prescription drugs that have risen the most over the last year. The GMCB cut the rate requests for both insurers, but Blue Cross was granted a 9.2 percent increase and MVP a 3.5 percent increase.
The GMCB announced on Thursday its decision on Blue Cross Blue Shield of Vermont’s (BCBSVT) requested rate increase for insurance plans offered on Vermont Health Connect (VHC), Vermont’s online health benefit exchange. The rates were filed by insurers on May 12 and were subject to a 90-day technical analysis and review by the GMCB. The review process included two days of rate hearings open to the public, input from the Office of the Health Care Advocate, a public comment forum, and the Board received public comment from over 500 Vermonters.
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Vermont Business MagazineThe University of Vermont is one of only 24 universities nationwide to make the Princeton Review's “Green Rating Honor Roll” in recognition of sustainability-related practices, policies and academic offerings. "The schools on our Green Rating Honor Roll demonstrated a truly exceptional commitment to sustainability across critical areas we looked at -- from course offerings and recycling programs to plans for reducing greenhouse gas emissions," said Robert Franek, the Princeton Review's editor-in-chief. "We salute their administrators, faculty and students for their collective efforts to protect and preserve our environment."
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Vermont Business Magazine Weekly unemployment claims increased last week but remain at a low summer-time level. Claims had been falling steadily since early July. Claims also are lower than they were the same time last year, which has been the usual case for most weeks in 2017. For the week of August 5, 2017, there were 392 claims, up 72 from the previous week's total and 131 fewer than than they were a year ago. Altogether 3,860 new and continuing claims were filed, an increase of 7 from a week ago, and 509 fewer than a year ago.
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Vermont Business Magazine GlobalFoundries employees were treated to a picnic to celebrate the plant that was founded by IBM in Essex Junction. Sanjay Jha, CEO of GlobalFoundries, with Governor Phil Scott, Senator Patrick Leahy, Congressman Peter Welch and other dignitaries, later joinedthem. But the plant needs more workers.