Current News

Vermont Business Magazine Green Mountain Power has lined up an army of crews to respond to outages expected from an extraordinary moisture laden spring storm already affecting parts of Vermont. The wet snow building up on tree branches is likely to cause outages across the state, especially in southern and central Vermont. “Preparing ahead for a storm like this means that we have hundreds of people in place to jump into action as soon as outages begin,” said Kristin Carlson, Green Mountain Power vice president of external affairs. “We’ve lined up outside crews to assist our team of GMP responders to restore power as quickly and safely as possible.”

Vermont Business Magazine Attorney Tom Csatari has announced that the Upper Valley office of Downs Rachlin Martin PLLC have moved to the Gateway I building at 67 Etna Road in Lebanon. The firm began welcoming clients at the new location last Monday. The relocation comes nearly 10 years after attorneys at the former Daschbach, Csatari & Young, PLLC agreed to form a combined practice with DRM in the Upper Valley.

Vermont Business Magazine Are we financially illiterate? Was our lack of financial acumen a cause of the Great Recession of 2008 and does it continue to undermine our nation's economic health? Unfortunately, the answer is yes to all of these questions, but until now, the extent of our financial ignorance had not been quantified. April is National Financial Literacy Month and a report issued by Champlain College's Center for Financial Literacy - " The 2016 National Report Card on Adult Financial Literacy" - shows that more than three-quarters of adults live in states with poor grades. This means that too many American adults are deficient in financial knowledge and skills, which leads them to make uninformed and often poor decisions about their money.

Vermont Business Magazine It was announced Thursday thatVolkswagen AG, Audi AG and Porsche AG, as well as their American subsidiaries, have agreed to pay over $157 million to 10 states – including $4.2 million to Vermont– to settle the environmental lawsuits first filed last summer by New York and Massachusetts challenging the companies’ secret use of unlawful “defeat device” software in their vehicles – software that caused tens of thousands of tons of excess harmful pollutants to be emitted into the air in New York and other states. Vermont AG TJ Donovan will lay out Vermont's more complicated settlement later Friday.

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.”

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