Current News

UPDATE:Circus Arts president and executive director resign, finances failing

Vermont Business MagazineThe Board of Directors of New England Center for Circus Arts (NECCA) today announced a leadership reorganization of the 501(c)(3) non-profit. Michael Helmstadter, executive director, in a statement said: “The past 18 months have been spent working to resolve management and personnel problems to the benefit of the entire organization. The board of directors of NECCA has chosen a difficult, yet necessary decision to separate the co-founders of NECCA—Elsie Smith and Serenity Smith Forchion—from the organization as employees. We are bound to sound governance by law. We are also bound to protect the confidentiality of personnel matters.

Vermont Business Magazine US Senator Patrick Leahy (D-Vermont) has joined Senator Dick Durbin (D-IL) and a group of 15 other senators in sending a letter Tuesday to the Drug Enforcement Administration (DEA), urging the agency to better prevent painkillers from flooding the market by setting lower opioid production quotas for 2018. Last year the DEA heeded the senators’ call to alleviate the opioid epidemic hitting Vermont and the nation by reducing nearly all opioid quotas by 25 percent or more. This was the first reduction of its kind in more than 20 years, but DEA-approved opioid production volumes remain troublingly high — including 55 percent higher oxycodone levels in 2017 than in 2007.

Vermont Business Magazine So how does a program like Financial Futures get from interpreted financial capability classes on site to the “Financial Empowerment for New Americans Project?” Start by building on a grant-funded project in 2015/16 through the Refugee Targeted Assistance Program with the goal of developing the financial capability of refugees and asylum seekers, then add staff participation in IDEO’s Human-Centered Design course, then strengthen existing and forge new partnerships.

Then add funding support from Jane’s Trust in the amount of $80,000 to bring on an Americorps*VISTA and a project manager, provide training for Community Ambassadors who will lead classes in year two, and a Financial Wellness Day with activities for the whole family.

Vermont Business Magazine FirstLight, a leading fiber-optic bandwidth infrastructure services provider operating in Vermont and across the Northeast, announced today that it has entered into a definitive agreement to acquireNashua, NH-based 186 Communications. The transaction will combine 186’s high-capacity fiber network in Massachusetts, New Hampshire and Vermont with FirstLight’s expansive fiber network and complete portfolio of data, Internet, data center, cloud and voice services.

by Stephen Barraclough, General Manager, Burlington Telecom Right now, a battle is raging at the Federal Communications Commission (FCC) as the country’s large, incumbent telecommunications firms try to undo key customer protections that prevent American internet customers from facing new fees, website blocking, and traffic throttling. However, not all telecom providers feel the same.

Since we’re in the business of selling internet access, we know better than anyone that broadband is essential infrastructure for our economy and our democracy. Imagine trying to apply for a job, going back to school, or staying in touch with friends and family without a high-quality internet connection. In 2017, high-speed broadband is critical to our labor market and civic participation.

Vermont Business Magazine Bennington County has been added to the FEMA Preliminary Damage Assessment (PDA) request after Vermont Officials identified additional damage this week. The PDA will be conducted by the Federal Emergency Management Agency (FEMA) beginning on Wednesday afternoon. Rain storms and resulting floods washed out roads and damaged other public infrastructure in several Vermont towns from June 29 – July 1. The state has identified more than $6-million in public infrastructure damage, far exceeding the $1-million threshold Vermont must show to be considered for a major disaster declaration. Bennington joins Addison, Caledonia, Orange, Rutland, and Windsor counties in exceeding the county minimum of $3.61 per capita to qualify communities in those counties for aid.

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.