Current News

Vermont Business Magazine The Burlington Telecom Advisory Board (BTAB) will host a community meeting Tuesday night at the Fletcher Free Library to discuss the timing and process by which Burlington Telecom (BT) will seek a new partner. Mayor Weinberger will not attend this event, but is advising it so that the public and the media are aware of this important discussion regarding the future of BT.

WHAT: Meeting to discuss timeline and process for BT transaction. The criteria by which proposals would be evaluated was previously approved.

WHO: Burlington Telecom Advisory Board (members listed below)

Vermont Business Magazine The Vermont Mayors Coalition issued a statement Monday that calls on President Donald Trump to rescind the Executive Order signed on January 27, 2017 which suspends the issuance of visas to residents of certain countries, and takes other action to restrict entry into the United States.

University of Vermont UVM is hosting "A Policy Panel Discussion" moderated by Governor Madeleine M Kunin, the Marsh Professor-at-Large Monday afternoon at 4:30 pm in the Silver Maple Ballroom at the UVM Davis Center. A reception immediately follows in the Fireplace Lounge.

Public Assets Institute Governor Phil Scott said this week that property taxes were one of the biggest contributors to what he calls the state’s “affordability crisis,” and he called on local school boards to cut more than $50 million from the budgets they’ve prepared for next year. But if schools make the cuts the governor has asked for, Vermont homeowners won’t see lower taxes. Instead, school budget savings will be used to cover new obligations the governor wants to pay for out of the education funding pot.

Vermont Business Magazine Senator Patrick Leahy (D-Vermont), a former chairman and ranking member of the Senate Judiciary Committee, announced on Monday his opposition to the nomination of Senator Jeff Sessions to be the next Attorney General of the United States.

by David Coates, KPMG (retired), Colchester There is both good news and bad news in the latest report from the State's Actuary. First the good news.....the Retiree Health Care Benefits (OPEB) unfunded liability for state workers and teachers was reduced by $274 million from 2015 ($2.1 billion) to 2016 ($1.8 billion). This reduction reflects better claims experience than expected and, in fairness, many positive changes for both pensions and retiree health care benefits made by the Treasurer.

Once again, the bad news is the unfunded liability for state workers and teachers pensions, which increased by $90 million from 2015 ($1.7) billion to 2016 ($1.8 billion). In total, the combined unfunded liabilities as of June 30, 2016 is $3.6 billion, or $5,800 for every resident of Vermont. For comparison purposes, the total net tax-supported debt for the state as June 30, 2016 is $637 million or slightly over $1,000 per every Vermont resident.

by Mike Smith GovernorPhil Scott must be banking on a groundswell of support from taxpayers, because he is finding stiff resistance to his proposed state budget from school boards and teachers.

Scott outlined his spending proposals in his recent budget speech and made good on his promise not to raise taxes or fees. He even went further. The governor proposed limitations on school spending that would be annually adjusted — up or down — depending on the number of students attending a school; plus, he proposed that teachers contribute 20 percent to their health care premiums. He would use the savings generated from these proposals to stem the growth in property taxes, make payments for teacher retirement costs and other benefits, and fund increases in early education as well as higher education.

Governor Phil ScottAs I said when the President’s Executive Order was first issued, I am concerned and disappointed with the message it sends, and the actions it takes. I applaud the federal court’s decision to stay the removal of individuals in the United States – and here in Vermont – legally with Green Cards and Visas, to their countries of origin. It’s one thing to express concern about foreign terrorist entry, it is something entirely different to remove people who enter this country legally, only because they are from certain countries.

Congressional Delegation “We deplore President Trump’s decision to unilaterally halt the refugee resettlement program and specifically target Muslim countries. By imposing a blanket ban on entire nationalities of men, women and children facing horrific violence and devastation, he has allowed fear to triumph over compassion and common sense."

Leonine Public AffairsThe 2017 session kicked into high gearon Tuesdaywhen Governor Phil Scott delivered his budget address to a joint assembly of the Vermont legislature. His proposed budget surprised many lawmakers as he laid out his vision for changing the way Vermont’s public education system is financed. Leading up to the speech many lawmakers, reporters, government staffers and lobbyists mingled in the hallways and cafeteria at the statehouse to speculate on the policy areas that would be put under the microscope. By late afternoon it was clear - education financing will take center stage in 2017.

Vermont Business Magazine Casella Waste Systems, Inc(NASDAQ:CWST), a regional solid waste, recycling and resource management services company, has announced that it has priced $25.0 million aggregate principal amount of Finance Authority of Maine (“FAME”) Solid Waste Disposal Revenue Bonds (Casella Waste Systems, Inc. Project) Series 2005R-3 (the “2005R-3 Bonds”). The 2005R-3 Bonds were previously designated as $3.6 million aggregate principal amount of FAME Solid Waste Disposal Revenue Bonds (Casella Waste Systems, IncProject) Series 2005R-1 and $21.4 million aggregate principal amount of FAME Solid Waste Disposal Revenue Bonds (Casella Waste Systems, Inc. Project) Series 2005R-2. The 2005R-3 Bonds will bear interest at 5.25% until maturity. The 2005R-3 Bonds are expected to be remarketed on February 1, 2017.

Vermont Business MagazineVermont is the Number 9 USGrowth State for 2016, according to the latest U-Haul migration trends report.Vermontclimbed seven spots from its Number 16 growth ranking for 2015. Year-over-year arrivals of one-way truck rentals jumped 8 percent last year inVermont, and departures rose 4 percent as overall U-Haul traffic increased.Arrivals accounted for 53 percent of U-Haul traffic in 2016, includinglocations in White River Junction,RutlandandBurlington, the cities to paceVermontin its net gain of one-way U-Haul trucks.White River Junctionis the Number 2 U-Haul USGrowth City for locations with a population fewer than 10,000.