Current News

Vermont Business Magazine In its final hours Thursday, the Legislature voted to approve S135, Vermont’s economic development omnibus bill. Section C of the bill sets up a secure public retirement option, the “Green Mountain Secure Retirement” plan, for small businesses. Pending due diligence by the Treasurer’s office, the goal is to implement the retirement plan by January 15, 2019.

The program was proposed by Treasurer Beth Pearce’s Public Retirement Study Committee, which recommended a Multiple Employer Plan (MEP) for the plan’s design. The MEP will be open to any employer with fewer than 50 employees that does not currently provide a retirement plan to its employees. This program makes a secure, vetted retirement option available to Vermont’s small employers.

Vermont Business Magazine AT&T workers who are members of Communications Workers of America (CWA) walked off the job today in Vermont, Northern New England and across the nation. About 35,000 workers areprotesting AT&T’s failure to present serious proposals that invest in good jobs with a future, the union said in a press release issued Friday afternoon. During the three-day strike this weekend, a majority of AT&T wireless, wireline, and DIRECTV workers fighting for fair contracts are expected to be on strike, the union said.

Vermont Business Magazine The Vermont State Police and the Bureau of Alcohol, Tobacco, Firearms and Explosives continue to investigate the May 4, 2017, pre-dawn burglary of the Shell station and firearms dealership located at 705 Rockingham Road in Rockingham. Numerous firearms and a large quantity of ammunition were stolen in the burglary. VSP and ATF are offering a $5,000 reward for information leading to arrest and conviction for this crime.

Anyone with information should contact the Vermont State Police at the Westminster Barracks – 802 722-4600. Information can also be provided online atwww.vtips.info orby texting "CRIMES" (274637) to Keyword: VTIPS.

Vermont Business Magazine Stephen P Marsh, Board Chair of Community Bancorp and Community National Bank, based in Derby, welcomed nearly 180 shareholders at the Elks’ Club on May 18, 2017, for the annual shareholders’ meeting. Marsh led the group in the Pledge of Allegiance and asked for a moment of silence for friends, neighbors and shareholders who were no longer with us. He continued with introductions of Directors, Advisory Board members, Executive Officers and retired Directors. He introduced guests Janice Latulippe from the public accounting firm BerryDunn and Denise Deschesnes from the law offices of Primmer Piper Eggleston and Cramer, PC.

Vermont Business MagazineThe Vermont Legislature wrapped up business Thursday night and advanced the budget, tax bills, and economic development bill to the governor today. Adjournment was delayed nearly two weeks over the issue of whether to institute a statewide teacher health insurance plan. Governor Phil Scott introduced the idea in April and the Legislature scrambled and then failed to find an alternative or compromise. Lawmakers might not be done yet, however, as a gubernatorial veto could be forthcoming.

According to the Burlington Free Press, the governor told legislators after midnight that a deal stillcould be struck, but he was not assuaged by a modest, one-time cut of 1.5 cents to the property tax rate that made no promises on a statewide teacher health plan going forward.

Vermont Business MagazineThe University of Vermont will celebrate its 216th commencement exercises on Saturday, May 20, and Sunday, May 21. President Tom Sullivan will confer degrees on an estimated 3,228 graduates, including 2,620 bachelors, 386 masters, 106 doctoral and 116 medical degree recipients. Among expected degree recipients are students from 40 states and 97 international students from 21 countries. Approximately 1,116 graduates are from Vermont. The graduating class includes an expected 343 students of color.

Vermont Business Magazine The City of Burlington will be funding a new Early Learning Initiative (ELI) focused on Burlington children from birth to age 3. Beginning in Fiscal Year 2018, the City will invest $500,000 annually in capacity grants to Burlington childcare programs that provide high-quality care to low income children and commit to increasing the number of slots available for children ages 0–3. Mayor Miro Weinberger made the announcement Thursday afternoon, along with Vermont Agency of Education Secretary Rebecca Holcombe, City Councilor Dave Hartnett, Vermont Business Roundtable President Lisa Ventriss, Dr Steve Leffler, Chief Medical Officer at UVM Medical Center and Chief Population Health and Quality Officer at UVM Health Network, Permanent Fund CEO Aly Richards, and YMCA President and CEO Kyle Dodson.

Vermont Business Magazine Attorney General Donovan joined 51 Attorneys General as a signatory on a letter The National Association of Attorneys General (NAAG) sent yesterday to the U.S. Senate Finance Committee chair and ranking member. The letter asks the Committee to introduce legislation that would allow the federal government to return prescription drug settlement money to the states.

At issue is a prescription drug benefit, known as Medicare Part D, for individuals covered by both the Medicare and Medicaid programs. This benefit has been paid for by the federal government and the states. Over the last 10 years, the federal government has recovered tens of millions of dollars in pharmaceutical fraud settlements involving Part D drugs, however the states have never received any share of the money.

by Paul Cillo Public Assets Institute Two years ago, I wrote an op-ed that opened: “The Legislature can work with local communities to improve education, or it can push them around.” This is the fundamental choice that the governor and lawmakers continue to wrestle with this session. In 2015, the debate was over school district consolidation. This year, the discussion hinges on savings from lower premiums for teachers’ health insurance, which have already been set for 2018. Both issues involve the state imposing control over local school management, and both have profound implications for communities.

Vermont Business MagazineForest tent caterpillars have hatched, according to forest health specialists from the Vermont Department of Forests, Parks and Recreation. The insect is expected to cause widespread defoliation this summer, mostly in forests across northeastern and central Vermont.

Vermont Business Magazine Barre native and national quality expert Anna T Noonan, BSN, MS, RN, has been appointed president and chief operating officer for Central Vermont Medical Center in Berlin. Following a rigorous national search, a press released stated, she emerged as the successful candidate and will start in the role July 24. CVMC is part of The University of Vermont Health Network, along with Porter Hospital in Middlebury and three hospitals in New York State.

Vermont Business Magazine Northern Power Systems Corp(TSX: NPS) has announced financial results for its first quarter endedMarch 31, 2017. The report indicates that revenues are up and the quarterly loss is down, compared to the same period last year. Northern Power sold off part of the company to a Brazilian firm late last year. Based in Barre,Northern Power isa next generation renewable energy technology company best known for its mid-sized wind turbine systemsdesigned for remote and off-grid locations. It employs 75.

Revenues for the three months ended March 31, 2017 were $6.2 million, compared to $5.2 million in the first quarter of 2016.GAAP net loss for the first quarter of 2017 was$1.2 million, compared toa net loss of $4.2 million in the prior year first quarter. Order backlog at the end of the first quarter was $30 million, compared to $26 million for the prior year first quarter.