Current News

Vermont Business Magazine The University of Vermont will award honorary degrees at the May ceremony to Diane Greene, Martha Pattee Heath, David R. Nalin, M.D., Alexander Nemerov, and Patrick Wong. The university will also award an honorary degree to James Fallows, the 2017 commencement speaker.

Vermont Business Magazine Thursday, the House gave nearly unanimous preliminary approval to the Fiscal Year 2018 budget with a vote of 143 to 1. This budget takes the next major step towards fiscal sustainability while making targeted investments that support families, communities, and a healthy economy.

Vermont Business MagazineThe Department of Financial Regulation (DFR) has received several reports of callers claiming to be conducting surveys on behalf of DFR’s Insurance and Banking Divisions. DFR is not conducting any surveys at this time.

Vermont Business Magazine Attorneys general from 12 states and the District of Columbia expressed their opposition to all legislative measures that would reduce funding for the Environmental Protection Agency (EPA) in a letter to the USHouse and Senate Appropriations Committees. The White House’s 2018 budget blueprint proposed a 31 percent cut to the EPA’s budget, the biggest cut of any federal agency.

In addition to Vermont Attorney General Donovan, the letter was signed by attorneys general from Connecticut, Hawaii, Illinois, Iowa, Maine, Maryland, Massachusetts, New York, Oregon, Pennsylvania, Rhode Island and Washington D.C.

“One of Vermont’s most important resources is our environment and it must be protected. The EPA helps protect Vermont and now we must help protect the EPA,” Attorney General Donovan said.

Vermont Business Magazine The University of Vermont Board of Trustees has added four new members with expertise in biomedical research, law, teaching, business and politics. Former Vermont Speaker of the House Shap Smith, an attorney at Dinse, Knapp & McAndrew; Rep Johannah Leddy Donovan (D-Burlington), a retired teacher; and Rep John Bartholomew (D-Windsor), a retired biomedical researcher and laboratory animal veterinarian; will serve six-year terms. They succeed outgoing legislative trustees Bill Botzow, Joan Lenes and Kesha Ram. First-year student Caitlin McHugh, who replaces David Brandt, will serve a two-year term until March of 2019.

Frank Cioffi

Vermont Business MagazineForecasters are calling for heavy wet snow, mixed with possible sleet and rain to hit VermontFridaymorning starting in Southern Vermont. The storm will then move North throughFridayinto the evening and intoSaturdaymorning. Green Mountain Power is preparing to ensure customer safety and reliability. In addition to internal crews, GMP has lined up external crews to help with restoration from this storm that could cause damage statewide.

Vermont Business Magazine The Vermont Public Service Board, on March 23, granted Coolidge Solar I, LLC a certificate of public good to construct a 20 megawatt solar electric array in Ludlow, which would be “by far” the largest solar electric facility in Vermont. Construction could start as early as the end of 2017, pending all state and local permits. The power is scheduled to be sold entirely to Connecticut utilities, as part of a 20-year power purchase agreement.

Unlike some other renewable energy projects, this project received the blessing of local officials in Ludlow, where it would be located. The facility will be connected to the VELCO substation in Cavendish. The PSB notes that the project would generate about $4 million annually in local and state tax revenues.

Vermont Business Magazine National petroleum analyst GasBuddy released a new study this week that found that when gas prices are less expensive, there is a higher chance for consumers to overpay for gas. The phenomenon is uniquely caused during low-price cycles because during those times there is a greater variance — “spread” in industry parlance — in gas prices in any given city. Vermont average per gallon prices this week are $2.26 and the US average is $2.30. The Vermont range is $2.11 (Springfield) to $2.49 (Newport Center). The variance in large urban centers is greater, according to the analysis.

“We’re in a relative period of tranquility and affordability at the pump, and so the data suggests Americans are at particular risk right now of overspending on gasoline,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “And we expect that trend to continue for some time.”

METHODOLOGY

Vermont Business Magazine Officials from the Vermont Department of Labor (VDOL) are continuing to keep the public informed on their ongoing review of a data breach on the standalone, web-based database, America’s Joblink Alliance (AJLA), since learning of the breach on March 15. AJLA informed ten states, including Vermont, that a system modification implemented in October 2016 created a vulnerability in the system. As previously reported, AJLA had become aware of the attack on, or around, March 12 and corrected the vulnerability before notifying the states impacted by the breach. AJLA immediately hired RSA Security, LLC, an independent security specialist, to investigate the breach. Both RSA and AJLA have provided assurance to the 10 states impacted by the breach that the vulnerability has been fixed.

Vermont Business Magazine On March 19, 2017, BioTek Instruments, based in Winooski, further expanded its presence in China with the opening of its Guangzhou office. As BioTek’s third China location, this most recent addition is situated in Guangzhou’s Tianhe district, Zhujiang New Town, and will include sales, service and applications support for the rapidly expanding South China market. BioTek’s General Manager for China, Luo Shaoguang (Danny) will oversee the new office. He said, “In this key growth region, it’s important for us to provide exceptional and responsive local support. By doing so, our customers have direct access to our scientific and applications resources that can significantly aid their research.”

Vermont Business Magazine Vermont Creamery Co-Founders Bob Reese and Allison Hooper and Land O’Lakes, Inc President and CEO Chris Policinski announced today that their businesses have joined forces. Vermont Creamery will become an independently operated subsidiary of Minnesota-based Land O’Lakes. It will continue to produce its award-winning fresh and aged goat cheeses, cultured butter and fresh dairy at the creamery in Websterville. According to a press release announcing the sale, terms of the acquisition will not be disclosed.

Vermont Business Magazine Vermont Attorney General TJDonovan today joined a coalition of 23 states, cities, and counties opposing President Trump’s executive order that directs the Environmental Protection Agency to dismantle the Clean Power Plan rule. The coalition includes the attorneys general from Vermont, California, Connecticut, Delaware, Hawaii, Iowa, Illinois, Maine, Maryland, Massachusetts, New Mexico, New York, Oregon, Rhode Island, Virginia, Washington, and the District of Columbia, as well as the chief legal officers of the cities of Boulder (CO), Chicago (IL), New York (NY), Philadelphia (PA), and South Miami (FL), and the County of Broward (FL). The coalition issued the following statement:

“We strongly oppose President Trump’s executive order that seeks to dismantle the Clean Power Plan.