Current News

Vermont Business Magazine Citizens Financial Group, Inc (NYSE: CFG), with approximately 20 branches across Vermont, today reported fourth quarter net income of $282 million, or $0.55 per diluted common share, up 28% and 31%, respectively, from $221 million and $0.42 per diluted common share in fourth quarter 2015. Compared with third quarter 2016 results, which included a $19 million after-tax benefit from notable items largely related to the TDR Transaction gain, net income decreased 5% from $297 million and diluted earnings per common share (“EPS”) decreased 2% from $0.56. Fourth quarter 2016 net income available to common stockholders increased $11 million, or 4%, from Adjusted third quarter 2016 levels* and diluted EPS increased $0.03, or 6%, from Adjusted third quarter 2016.

Vermont Business Magazine When tens of thousands of families and businesses count on you every day to deliver their power - no interruptions and no exceptions - reliability is everything. Hence the name: Northern Reliability, the newest member of the Vermont Community Loan Fund’s (VCLF) family of borrowers. In December, according to VCLF, the nonprofit institution provided financing to Northern Reliability (NR), the Waitsfield power storage company, to help NR cover operating costs, such as product design and customization, installation and maintenance of power storage units on- and off-grid, and more.

Vermont Business Magazine United Way of Northwest Vermont has announced the hiring of Swanton resident and organizational management consultant Molly Lambert as Interim Executive Director. She replaces former Executive Director Martha Maksym, who resigned her position with United Way of Northwest Vermont on January 5 to serve as Deputy Secretary of the State of Vermont Agency of Human Services.

Vermont Business MagazineVermont's unemployment rate fell one-tenth last month, but the better news was that both the labor force and the number of employed both increased, while the number of unemployed fell.The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for December was 3.1 percent. This reflects a decrease of one-tenth of one percentage point from the revised November rate (3.2 percent). The national rate in December was 4.7 percent, up one-tenth.

Vermont Business Magazine Gardener’s Supply Company is being honored with a national, “2017 Green Thumb Award,” by the Direct Gardening Association for its innovative new product, “Plant-a-Bar.” Gardener’s Supply said in a statement that Plant-a-Bar is an ingenious combination of an outdoor bar and an elevated planter – so you can serve a drink with a sprig of fresh herbs picked an arms-length away.

Vermont Business Magazine Governor Phil Scott today announced the appointment of Sarah George as Chittenden County State’s Attorney. George has served as the County’s Deputy State’s Attorney since 2011, where she prosecuted thousands of cases, including aggravated assault, domestic violence, attempted murder and murder. She has been a leader in seeking justice for victims of domestic violence, serving as Lead Prosecutor for domestic violence cases in Chittenden County for over two years, and serving as a domestic violence investigator for the Chittenden County State’s Attorney’s Office in 2010.

“It is an honor to appoint Ms George to this role, as she has demonstrated a commitment to justice and public service throughout her entire career,” said Gov. Scott. “She is a strong, decisive prosecutor who came highly recommended from many respected community voices and colleagues. I am confident she will serve the people of Chittenden County well.”

by Timothy McQuiston Vermont Business Magazine State economists downgraded on Thursday Vermont’s current fiscal year tax revenue expectations as well as next year’s (FY 2017 & FY 2018) and largely blamed the suddenly moribund Corporate Income tax. The Corp tax is below its target by over $9 million halfway through FY17. Economists Tom Kavet and Jeff Carr expect the total shortfall for the year to be $24.6 million for the state’s General Fund when all factors are figured in. Governor Phil Scott wondered whether even that was too rosy a projection.

by CB Hall Vermont Business MagazineRepresentatives of Vermont's solar industry are for the most part looking to the future with cautious optimism, hoping that the established nature of the no-longer-novel industry will serve as a bulwark against policies that the administration of President Donald Trump, with its skeptical view of renewable energy, might impose.

Vermont Business Magazine CE Bradley Laboratories, a Brattleboro company that manufactures coatings, will design and install a system that captures and controls solvent vapors at its plant, ensuring that workers are protected from solvent emissions and that the environment is protected from a possible release of solvent emissions. In an agreement with the US Environmental Protection Agency, CE Bradley will spend $272,711 on an environmental project that consists of designing and installing a solvent emission capture and control system in the manufacturing area of its Brattleboro facility. The company will also pay a penalty of $71,000 to settle claims by EPA that it violated federal and state hazardous waste laws.

CE Bradley Laboratories, Brattleboro. VBM file photo.

Vermont Business MagazineAsGrow Compostheads into 2017, it is focusing on three priorities to help businesses meet the requirements ofAct 148, the state’s Universal Recycling Law -- diverting liquid organic wastes from breweries and distilleries, diverting food scraps from businesses, and helping businesses cut the amount of food scraps they throw away.Grow Compost’s expansion plan is being funded through the Vermont Sustainable Jobs Fund,Flexible Capital Fund.

Vermont Business MagazineSunCommon of Waterbury and Sustainable Energy Development (SED) of Ontario, New York, have announced a new partnership, bringing SunCommon’s brand residential solar expertise and innovative Community Solar program to Western NY markets.

Vermont Business MagazineThe Champlain College Center for Financial Literacy has received a $120,000 challenge grant from Next Gen Personal Finance, a non-profit organization that connects educators and students with free financial literacy resources. According to an announcement Wednesday,Champlain's CFL is one of the few places in the nation that offers educators a three-credit graduate summer residency course. This nationally recognized training program was last held during the summers of 2011-2013.