Current News

by Mike Smith Last year I wrote about my father’s alcoholism. It’s a horrible disease. He died at the age of 44 because — essentially — he drank himself to death. It’s easy to focus on his disease. No doubt my father’s memory will always be overshadowed by his addiction. Sadly, the lasting impact of alcoholism is that it steals away so many memories of who that person actually is — or might have been — absent this disease.

But, to me, my father’s legacy isn’t about his alcoholism; instead, his legacy centers on those qualities that he instilled in me before the disease changed him. He taught me about compassion toward others, especially those who are sometimes ignored or forgotten. He insisted that I respect others, no matter their status in life.

Vermont Business Magazine The Vermont labor force and number of employed were battered in May, thoughthe unemployment rate itself (with labor force being the denominator)didn't change.The Vermont Department of Labor announced Friday that the seasonally-adjusted statewide unemployment rate for May was 3.1 percent. This reflects no change from the revised April rate (3.1 percent). The national rate in May was 4.3 percent. As of the prior month’s preliminary data, the Burlington-South Burlington Metropolitan NECTA was tied for the 12th lowest unemployment rate in the country for all metropolitan areas at 2.3 percent (not-seasonally-adjusted). Overall, Vermont’s unemployment rate was tied for the eighth lowest in the country for the same time period.

Vermont Business Magazine Utility Services Inc. (USI) received an award on May 25, 2017. USI was recognized by the Global Energy Utility & Telecommunications Awards as the leader in the industry and the “Best Utility Compliance Consultancy Firm - USA.”

At a celebration of USI’s 10^th anniversary with clients, staff, and invited family and friends, Brian Evans-Mongeon, President and CEO, announced to the guests the honor of receiving such an award. “This award is because of our dedicated staff of professionals, and without their continued commitment to our overall mission of serving our clients, none of this would be possible. The clients we serve are the reason we exist and are the catalyst for all that happens at Utility Services, and their continued trust in us is where our success should be credited.”

New Americans contribute significantly to Chittenden County’s housing values, GDP, and job market according to a new report released by the Champlain Valley Office of Economic Opportunity (CVOEO). This report addresses the negative stereotypes surrounding immigrants, documenting the wide range of benefits provided by our New American neighbors.

Jan Demers, Executive Director of CVOEO says, “This document provides a much-needed resource for Chittenden counties’ nonprofits, local and state agencies, and for-profit businesses as we advocate for our new neighbors, forge new and strengthen existing partnerships, and reach out to funders and individual donors. Our community will be stronger for everyone.”

Vermont Business Magazine Vermont State Treasurer Beth Pearcehasjoined a bipartisan coalition of State Treasurers from across the country to urge theU.S. Department of Labortofully implement the Fiduciary Ruleto protect citizen investors frompotential harm.

In aletterto Labor Secretary Alexander Acosta, Treasurer Pearceand colleaguescautioned against revising provisionsof the Fiduciary Rule:“The retirement savings crisis is growing daily,” the letter states. “We are committed to protecting the financial interest of our constituents – in particular, ensuring that retirement planning and investment advice is not conflicted, and is provided in the sole interest of retirement savers. The Fiduciary Rule is not only a common-sense measure, but a necessary one to protect the public interest.”

Vermont Business Magazine Below is the reaction of Senator Patrick Leahy (D-Vt.) to President Trump’s decision to tighten restrictions on travel and trade between Americans and Cuba. Leahy, the Vice Chairman of the Senate Appropriations Committee and Ranking Member of its Subcommittee on the State Department and Foreign Operations, for two decades has led in pressing for reform of the failed five-decades-old U.S. policy on Cuba. Leahy and Sen. Jeff Flake (R-Ariz.) are the lead sponsors of legislation to restore Americans’ freedom to travel to Cuba. Leahy’s statement follows:

"This is a hollow retreat from normalization that takes a swipe at Americans’freedom to travel, at our national interest, and at the people of Cuba who yearn to reconnect with us –all just to score a political favor with a small and dwindling faction here at home.

Vermont Business Magazine Vermont Attorney General Thomas JDonovan, Jr, is working with a bipartisan coalition of a majority of Attorneys General from across the country in an ongoing investigation to evaluate whether manufacturers have engaged in unlawful practices in the marketing and sale of opioids. The Attorneys General are investigating what role the opioid manufacturers may have played in creating or prolonging this epidemic. The coalition of Attorneys General is using its investigative tools, including subpoenas for documents and testimony, to determine the appropriate course of action to address this opioid epidemic. Nationwide and in State of Vermont, opioids—prescription and illicit—are the main driver of drug overdose deaths.

Vermont Business Magazine Weekly unemployment claims rose a moderate amount last week but remain under 400, which is low even for the typically low summer-time claims. There still could be some volatility coming soon after school lets out. Claims spiked to over 1,100 seven weeks ago and then again two weeks ago before falling steeply. Claims 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 June 10, 2017, there were 369 claims, up 40 from the previous week's total and 87 fewer than than they were a year ago.

Altogether 3,816 new and continuing claims were filed, a decrease of 117 from a week ago, and 471 fewer than a year ago.

Claims during the summer usually hold at a relatively low level because of vacation hiring, until the next transition when school resumes in September.

Vermont Business Magazine US Senator Bernie Sanders (I-Vermont) announced Thursday that Vermont will receive $3 million from the National Housing Trust Fund. The funds will be used to build, preserve, and rehabilitate affordable rental housing. Sanders helped lead a 15-year effort to pass and fund the National Housing Trust Fund. Last year, the first year of the new program, Vermont was also awarded $3 million to help provide housing for extremely low-income families.

“Increasing the availability of affordable housing in Vermont has consistently been one of my top priorities,” Sanders said. “After more than 15 years of fighting for the National Housing Trust Fund, I am very pleased to see all 50 states receive funds to provide housing for people who are most in need. I am pleased that, once again, Vermont will receive $3 million from the National Housing Trust Fund.”

Vermont Business Magazine Springfield Regional Development Corporation announced that it has received financing of $625,000 from the Vermont Economic Development Authority (VEDA) to assist with the redevelopment of roughly 35,000 square feet of the former Bryant Grinder facility in Springfield. SRDC will utilize the VEDA funds to continue repairs to the southern portion of the building to prepare it for future occupancy. Bob Flint, SRDC Executive Director, said that the support from VEDA comes at a critical time.

“The north and south ends of the building are in the best condition and can be put back into use. The VEDA financing will allow us to have usable space to market for commercial use for Springfield,” Flint said.

Vermont Business Magazine Vermont dairy workers will lead a historic 13 mile march through the state’s iconic rural landscape, culminating at the Ben & Jerry’s factory and tourist destination.Organized by Migrant Justice, workers and allies are calling on the ice cream company to source its milk in compliance with the human rights of dairy workers by joining Migrant Justice’s Milk with Dignity Program.

Vermont Business Magazine The board of the JWarren & Lois McClure Foundation, a supporting organization of the Vermont Community Foundation, announced that it has electedLois McClure as president emerita, Barbara Benedict as president, and Rebecca Henry as vice president. The transition brings together three generations of the McClure family to lead the foundation and its work to make career and college education accessible to all Vermonters.