Current News

Vermont Business MagazineSenatorBernieSanders(I-Vermont), along with Senators Patrick Leahy (D-Vermont), Kirsten Gillibrand (D-NY) and Maggie Hassan (D-NH), introduced two pieces of legislation to help workers around the country form employee-owned businesses.

Vermont Business MagazineMobius convened the 2017 Vermont Mentoring Symposium at the State Offices Complex in Waterbury on Tuesday, May 9. This statewide event brought together more than 60 youth mentoring program staff, board members, and supporters from across Vermont for a day of networking and professional development.

Vermont Business Magazine Green Mountain Power announced Friday a first-of-its-kind program that includes the Tesla Powerwall 2 and utilizes Tesla’s cutting-edge GridLogic software platform.According to Kristin Carlson, GMP's VP of Strategic & External Affairs, this partnership will help customers make a dramatic step forward in energy independence by using stored energy to help drive down the costs of the grid and improve the comfort, energy use, and resilience of their own homes. The program will also help directly lower costs for all customers by reducing transmission and capacity costs, especially during peak energy times like hot summer days, while also increasing reliability, she said.

Leonine Public AffairsWhile the Vermont General Assembly initially planned to adjourn Friday, May 6th, a disagreement between the Democratic-controlled legislature and Republican Governor, Phil Scott regarding education spending and teacher health insurance contracts prevented that from happening. As a result, the plan was to come backon Wednesdayof this week for a two day session to wrap things up. However, even after going an extra day through today (Friday), the legislature and administration still had not reached an agreement. As a result, the full Senate plans to returnon WednesdayorThursday next week(5/17 or 5/18). The full House could return as early asTuesday(5/16) and will be notified by email as to the exact return date.

Vermont Business Magazine"One love, one heart..." So begins one of the most recognized songs in reggae history.Bob Marley'smemorable refrain is a call for global compassion, and is a perfect anthem for Ben & Jerry's latest flavor, One Love. The flavor concoction that came to fruition in partnership with the Marley family pays homage to the legendary performer and his vision for a better world.

Vermont Business Magazine ThisMother's Day, Mamava, maker of the world's first free standing lactation suite, is standing in solidarity with breastfeeding mothers and their babes with the release of avideoannouncing their new mobile locator app. The Mamava app provides a digital solution for the struggle endured by every breastfeeding mom: the lack of dignified space to express breastmilk. The new Mamava app supports moms on the go by locating Mamava lactation suites and over 1200 other Mamava-vetted public lactation rooms.

Vermont Business Magazine Hiking Vermont’s hillsides is a great way to enjoy a spring day, but the Vermont Fish & Wildlife Department and Audubon Vermont recommend you check to see if the area you’re planning to hike or climb is open. Several cliff areas are currently closed to protect nesting peregrine falcons.The Vermont Fish & Wildlife Department partners with Audubon Vermont to monitor the sites throughout the nesting season.

“Peregrine nesting is well underway this spring,” said John Buck, Vermont Fish & Wildlife Department biologist. “The falcons are very sensitive to human presence so we ask climbers and hikers to please maintain a respectful distance from all nests. These closures help people to choose an alternative route in advance.”

Vermont Business MagazineNational Life’s Board of Directors has elected Chief Executive Officer Mehran Assadi chairman of the board, effective immediately. Assadi has served as president and CEO of the company since 2009. He will retain those titles as he also assumes the chairmanship. He succeeds Thomas H. MacLeay, a former president and CEO who has served as chairman since 2002. MacLeay will remain on the nine-member Board as the lead director.

The unanimous election of Assadi by the Board of Directors followed the annual meeting onMay 12, 2017.

Vermont Business Magazine The Green Mountain Care Board (GMCB) today received proposed rates for 2018 Qualified Health Insurance Plans (QHPs) offered on Vermont Health Connect (VHC), Vermont’s online health insurance marketplace. For its VHC plans with coverage beginning January 1, 2018, Blue Cross and Blue Shield of Vermont (BCBSVT), which insures more than 70,000 Vermonters through VHC, requests a 12.7 percent average annual rate increase. MVP, which covers approximately 10,000 Vermonters in VHC plans, requests an average annual rate increase of 6.7 percent. The GMCB typically will issue a decision that lowers actual rates. One large caveat in all this is that Congress is working on a new health care plan that could replace the Affordable Care Act (Obamacare). The House already has passed a plan, which could be revised if not wholly undone by the US Senate.

by Timothy McQuiston Vermont Business MagazineMerchants Bank and Community Bank, NAwill formally merge this weekend, May 12-14. Branches will close at 3 pm Friday and re-open Monday morning asCommunity Bank. Merchants Bank was formed in 1849. Last October 22,Merchants Bancshares, based in South Burlington, and Community Bank System, Inc of Syracuse, NY, entered into a definitive agreement under which Community would acquire Merchants in a cash and stock transaction valued at $304 million. Regulators approved the deal at the end of April.

The late Dudley Davis, who stepped down as president in 1994, was one of, if not the last, man who ran a bank with a handshake. For that reason Merchants was called "the last real bank in America" by a local businessman. Regulators wouldn't allow such financial dealings these days, of course, and haven't for more than 20 years.

Vermont Business Magazine Moody's Investors Service has upgraded the ratings of the Senior Series 2015A bonds of Vermont Student Assistance Corp, which VSAC says signals continued confidence in the performance of its Vermont Advantage loan program. VSAC said in a statement Friday that Advantage customers are successfully repaying their loans because of VSAC’s trusted customer service and affordable rates.

Scott Giles, VSAC president and CEO, said the Moody’s upgrade is significant because it indicates that VSAC continues to outperform the rating agency’s expectations.

“Education is clearly paying off for Vermonters,” Giles said. “VSAC works with students and families to help them make the right choices about which schools and programs will best fulfill their career needs as well as how to make smart financial decisions about the cost of their education.”

Vermont Business Magazine Secretary of State Jim Condos has released a statement in response to President Trump’s Executive Order Thursday establishing a Commission on Election Integrity. The Vermont secretary says it is "flawed," could cause harm to the electoral process, and "will be used to attack the voting rights of eligible voters."