Current News
by Jack Hoffman Public Assets Institute The Legislature postponed its planned adjournment last week ostensibly over a disagreement with the governor about health care for Vermont’s local teachers. A lot of numbers have been thrown around—and I’ll get to those in the minute—but the crux of the dispute is that the governor claims he can drive a better bargain with the teachers than local school boards can. He’s not trying to make himself out to be Donald “Art of the Deal” Trump, but he says he has a plan to save $26 million.
Vermont Business Magazine President Trump fired FBI director James Comey Tuesday, eliciting outrage from Democrats who see him as villain in the presidential election, but also important to the investigation into the influence Russia exerted on the electoral process. Comey had re-opened the inquiry into Democratic presidential candidate Hillary Clinton's term as secretary of state, and in particular her handling of emails, shortly before the general election. Democrats viewed that as crucial to Donald Trump winning the election. But Comey's FBI was also seen by them as vital in uncovering the relationship between Russia and Trump officials and the influence Russia had on the election.
Vermont Business MagazineWCAX has received an Edward RMurrow regional journalism award from the Radio Television Digital News Association. The annual awards recognize the spirit of excellence that Edward RMurrow made standard for the broadcast news profession. Reporter Jennifer Costa and photographer Robynn Beams received a first place award in the hard news category for their report, “Obit of an Addict.”The story focuses on a family’s decision to acknowledge their son died of an opiate overdose and to share the details of his struggle with addiction in his obituary.
Vermont Business MagazineWilliston-based Article One Partners (AOP), the world's largest patent research community, and Intralink, a leader in developing and implementing strategies in Asian markets, have announced a new strategic partnership. With intellectual property (IP) at the forefront of all companies' strategies, the partnership between Article One Partners and Intralink will help AOP expand its business reach in Asian markets and specifically in Japan.
Vermont Business Magazine Senator Bernie Sanders (I-VVermont) and Representative Marcy Kaptur (D-Ohio) introduced legislation Tuesday to protect the pensions of upto 10 million workers andretirees. The Keep Our Pension Promises Act would reverse a provision passed in 2014 that could result in deep pension cuts for millions of retirees and workers in multi-employer pension plans.
The bill is co-sponsored in the Senate by Senators Tammy Baldwin (D-Wis.), Sherrod Brown (D-Ohio), Claire McCaskill (D-Mo.), Al Franken (D-Minn.), Amy Klobuchar (D-Minn.), Gary Peters (D-Mich.), Debbie Stabenow (D-Mich.) and Sheldon Whitehouse (D-R.I.).
Vermont Business Magazine Finding work for unemployed and underemployed young Vermonters, while filling positions for needy businesses, is the goal of the second annual Jobs for Youth Fair, to be held Thursday in Burlington. Mayor Miro Weinberger today joined Vermont Department of Labor Deputy Commissioner Michael Harrington, Chittenden County State’s Attorney Sarah George, Spectrum Youth and Family Services Multicultural Youth Program Coordinator Michael Hill, Jr, Westport Hospitality Human Resources Director Amy Shea and Westport Hospitality COO Joe Carton, to encourage participation in the second annual jobs fair May 11 in the Burlington Town Center.
Vermont Business Magazine The Boards of Directors of Addison County Transit Resources (ACTR) and Stagecoach Transportation Services Inc voted on May 8 to formally merge the two community transportation agencies into one, the culmination of a partnership begun three and a half years ago. While the merger will bring a new name, Tri-Valley Transit (TVT), to the umbrella organization, both the ACTR and Stagecoach names will remain intact for their respective operating regions.There are no expected changes to on-the-street services, no immediate plans to change the unique branding of local services, and no anticipated job losses, according to an announcement Tuesday.
Vermont Business MagazineBerkshire Bank will host a luncheon onMay 10to recognize National Small Business Week.The event will honor local Rutland Economic Development Corporation and Community Capital of Vermont with a $1,000 grant in recognition of their commitment to supporting and assisting local small businesses.
Vermont Business MagazineESCO Technologies Inc(NYSE: ESE), a St Louis industrial energy equipment supplier,announced in a press release today that it has acquired NRG Systems, Inc of Hinesburg. NRG, also known asRenewable NRG Systems, wasfounded in 1982. Itis a global market leader in the design and manufacture of support tools for the renewable energy industry, primarily wind. It is well known for itslittle propeller-like instruments called anemometers, which are used to gauge wind speed and direction. Terms were not disclosed.
Vermont Business MagazineWhistlePig LLC, of Shoreham, apremier rye whiskey company, announced Monday that it received a $25 million asset-based line (ABL) of credit from JPMorgan Chase, replacing its current ABL and more than doubling its access to liquidity. The credit facility is a reflection of WhistlePig’s performance to date, expected growth, and strong existing inventory position. It will provide the company with incremental funding to accelerate the production and aging of premium rye whiskey.WhistlePig's goal is to produce a farm-to-bottle whiskey at its Vermont location.
Vermont Business Magazine Vermont ranked Number One in the nation and five of the top seven states were in New England in a WalletHub study of children's health. Raising a child in America is more expensive than ever, and health care accounts for a big chunk of the bill. And while more kids are insured today than at any other point in history, the higher coverage rate hasn’t translated to lower health costs for parents. Per-capita spending on children’s health care in 2014 reached $2,660 — having increased by more than 5 percent every year since 2010 — due mainly to rising health costs, according to a recent report from the Health Cost Institute.
Vermont Business MagazineFreshTracks Capital announced Monday it has investedin a growing Vermont-based beverage brand, DRINKmaple.This is the second Vermont-based investment from FreshTracks Capital’s newly launched investment fund, FreshTracks IV.DRINKmaple, based in StAlbans, is a rapidly-growing maple water brand that features only one ingredient, straight from the tree. It’s refreshing, hydrating and naturally nutritious, with just a subtle hint of maple. DRINKmaple is packed with 46 naturally-occurring nutrients including antioxidants, polyphenols, minerals and electrolytes, with more manganese than a cup of kale, and half the sugar of coconut water. The company also makes DRINKmelon Organic Watermelon Water, also made from one ingredient, 100% organic watermelons.
