Current News

Vermont Business Magazine FreshTracks Capital announces its investment in Ogee, a Vermont-based company that makes luxury organic skincare and beauty products. This is the fifth company investment from FreshTracks Capital’s newly launched investment fund, FreshTracks IV, which opened in December 2016. FreshTracks led the $1 million round of financing for Ogee to provide growth capital and help the company expand its business.

Ogee was founded by Mark Rice, Abbott Stark and Alex Stark, who started Ogee together in 2014, and in 2016 won LaunchVT’s business pitch contest. The company’s founders spent years in the beauty and fashion industries, building some of the world’s leading brands and products, and decided to focus on developing products that represent their own values, with proven ingredients and effective natural formulations.

Vermont Business MagazineThe People’s United Community Foundation, the philanthropic arm of People’s United Bank, announced Wednesday that it awarded $82,500 during its second grant cycle of 2017 to nonprofit organizations throughout Vermont. Fifteen organizations received funding in support of activities that ranged from basic needs services and affordable housing initiatives, to education and workforce development programs. Recipients included Champlain Valley Office of Economic Opportunity, Easter Seals Vermont, New England Kurn Hattin Homes, Samaritan House, Sara M. Holbrook Community Center, Umbrella of St. Johnsbury, Vermont Community Loan Fund, and Zack’s Place Enrichment Center, among others.

by Bill Schubart I’ve been watching the national effort to politicize Burlington College’s demise and am saddened by the venality of our politics and our dangerous ignorance of non-profit governance. It’s endemic in Vermont, where too many of our major non-profits have limped through a decade or two of unreviewed leadership performance, mission decay, and disconnection from constituents because their boards have no idea what the obligations and liabilities of board members are or even what board service means.

I won’t dwell on the details of Burlington College except to say that the entire fault lies with the Board. It can be said that Jane Sanders has a checkered history leading colleges, but all presidents serve at the will of their boards. It’s also been alleged that she tried to deceive the Board. But this doesn’t happen with a properly functioning board that verifies the bases for all major financial and academic decisions.

Vermont Business MagazineThe Agency of Natural Resources announced Wednesday that Suzanne Reider of Goshen was fined $9,750 for making alterations to Stewart Pond Dam before obtaining necessary authorization from the State. Dams, even small dams for backyard ponds, are significant structures that can have major public safety and environmental implications. As a result, dams are regulated by a variety of federal, state and local laws. The Agency’s Department of Environmental Conservation Dam Safety Program regulates non-hydroelectric dams capable of impounding more than 500,000 cubic feet of water by inspecting and issuing permits for dam construction and alteration.

Vermont Business MagazineSevere weather pummeled downtown Barre on July 8, 2017, with wind gusts that tore back a portion of the roof of a Main Street building that housed Gifford’s Project Independence (PI). The adult day program (which provides services to seniors with cognitive and physical disabilities) and four second-floor apartments were opened toSaturdayafternoon’s torrential rain and there was significant structural and subsequent water damage. The tenants of the four apartments shared that with the help of the American Red Cross and family they were placed into temporary housing, and contractors were on site by evening to secure and close-in the building. Gifford has been working with City of Barre officials and the State Fire Marshall to assess the damage and make repairs so tenants and PI participants can return as soon as possible.

by Timothy McQuiston Vermont Business MagazineParis-based AREVA has signed a contract with NorthStar to segment, package and transport to offsite disposal the reactor pressure vessel and internal reactor components of the Vermont Yankee Boiling Water Reactor. This does not include the spent fuel. The reactor began commercial operation in 1972 and, at full power, supplied 620 MW. It shut down in December 2014. Terms of the deal, announced Tuesday, were not disclosed.

Vermont Business Magazine Tuesday, Governor Phil Scott met with Dr Stephen Cha, Fatema Salam and Rivka Friedman of the Center for Medicare and Medicaid Innovation (CMMI), as part of the federal organization’s day-long visit to Vermont.

Governor Scott provided the following statement on the meeting and the in-depth discussions of health care reform:

“While there continues to be uncertainty at the federal level around Medicaid funding and health care reform, it was encouraging to find a great deal of common ground with our national partners, knowing we share the goal of improving our health care system and making care more affordable. Across the country, health care costs have grown unsustainably and Vermont faces the same challenges.

Vermont Business Magazine The Burlington Electric Department today, joined by Mayor Miro Weinberger, launched its new Solar Shopper program, designed to help Burlingtonians shop for solar through a new, easy-to-use, web-based comparison shopping tool. This program is designed to help residential and small commercial customers install net-metered solar arrays of up to 15 kilowatts. Through a partnership with six solar vendors, Burlington Electric, the first utility in Vermont to offer such a program, will help its customers make better solar decisions by providing personalized, comparative pricing information within three business days. Burlington Electric has set an ambitious goal of 100 new solar installations during the upcoming year.

Vermont Business Magazine Joseph L Choquette III, external affairs manager at Downs Rachlin Martin PLLC, has been named Rotarian of the Year 2016-2017 in recognition of his dedication and service to the Rotary Club of Montpelier. Presented at the first club meeting of the new year on July 10 by outgoing President Susan Kruthers, Choquette was surprised and honored to have been recognized. “I was grateful for the recognition.” Choquette said.

Vermont Business Magazine This month the Vermont Law School community welcomes new leadership as Thomas McHenry begins his tenure as the school’s ninth president and dean.

Vermont Business Magazine The Conrad N Hilton Foundation has awarded a three-year, $1.8 million grant toJames J Hudziak, a professor of child psychiatry and pediatrics at The University of Vermont Larner College of Medicine, to determine if the UVM Wellness Environment, or WE, in concert with a health promotion and disease prevention app he developed will promote wellness among college students, in the process reducing their use of alcohol and other drugs.

Vermont Business Magazine The Bank of Bennington presented a $25,000 donation to Southwestern Vermont Health Care (SVHC) last week at the bank’s flagship location at 155 North Street in Bennington. The funds, given in celebration of the bank’s centennial year, are dedicated to the creation of several interactive, child-friendly waiting areas within the health system.