Current News

Vermont Business Magazine The Vermont Department of Financial Regulation (DFR) and the National Association of Insurance Commissioners (NAIC) today announced a national service that provides consumers with search capabilities to help find a deceased person’s lost life insurance policies and annuities. The NAIC’s Life Insurance Policy Locator provides nationwide access for assistance with finding life insurance policies and annuities. An estimated $1 billion in benefits from life insurance policies are unclaimed, according to the publication “Consumer Reports.”

Vermont Business Magazine Mascoma Community Development (MCD) has been awarded $50 million in additional New Markets Tax Credit (NMTC) authority from the USTreasury's CDFI Fund. The NMTC program allows MCD to direct capital to underserved communities through financing high-impact, mission-focused projects nationwide. Mascoma Savings Bank has offices in Vermont.

Brooks House photo by Phil Innes.

Vermont Business Magazine Green Mountain Power’s office in Colchester is now home to two B Corps with the certification of Greenbanc, one of the energy innovators located in GMP’s Inspire Space. B Corps are companies that believe business can be a force for good and are certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. GMP became the first utility in the world to become a Certified B Corp in 2014.

“We are thrilled that our Inspire Space contest inspired Greenbanc to relocate to Vermont and to become a certified B Corp,” said Mary Powell, President and CEO of Green Mountain Power. “Our Inspire Space is helping energy innovators grow and develop important technology and clean energy solutions that will benefit our customers, while they live their commitment to having a positive social and environmental impact. Working together we can achieve amazing results for Vermonters.”

Vermont Business Magazine With its non-stop-since-Sunday, hardworking, talented Team Snowmageddon, Bromley Mountain in Peru will welcome Winter 2016/17 on Friday, 11/25 at 9am. The plan is to spin the Sun Mountain Express and Alpine Double from 9am to 4pm on Friday, and repeat on Saturday & Sunday beginning at 8:30am.

Vermont Business Magazine On Monday, Salvation Army Volunteers began the daunting task of Un-stuffing two 53 foot long Bellavance tractor trailers at the Emergency food shelf on Keith Avenue in Barre. The Food Collected by 107.1 Frank-fm, Froggy 100.9 and 105.7 The Beat during the 15th Annual Stuff A Truck Food and Funds Drive comes at a dire time for the Army who’s been running low on supplies since late September.

Vermont Business Magazine Department of Public Safety Commissioner Keith Flynn and Vermont State Police Director Colonel Matthew Birmingham are pleased to announce that the Vermont State Police has become the first state police agency in the country to join the White House Police Data Initiative. In 2014, President Obama launched the Task Force on 21st Century Policing to identify the best means to provide an effective collaboration with local communities that reduces crime and increases trust.  Currently, 129 individual law enforcement agencies have joined this effort.  This past summer, the Vermont State Police became the first state police agency to join this effort, fulfilling in-part its commitment to transparency and fair and impartial policing in today’s data driven culture.

Vermont Business Magazine City Market, a Member-owned cooperative, has declared their annual Patronage Refund to Members, one of the tangible benefits of Co-op Membership. Member purchases totaled over 68% of Co-op sales in fiscal year 2016, and the City Market Board of Directors has voted to return over $656,000 in cash to Members as this year’s Patronage Refund. On November 10, the Co-op mailed checks to 11,450 Members, with an average check of $57. Over 2.4 cents of every dollar eligible Members spent is being refunded. City Market started issuing Patronage Refunds in 2009; with this year’s checks City Market has in total circulated more than $5.4 million back into the local economy with Patronage Refund checks.

Vermont Business Magazine Vermont Railway announced today that the Shelburne Transload Facility is now fully operational with the first railcars of salt being unloaded this morning. Construction of the facility was completed in early November and Vermont Railway received its final permit authorizations on Monday.

Vermont Business Magazine Thirty-two Vermonters who were deceived into purchasing nearly worthless memberships in the “Member Choice” travel club will receive partial refunds from some of the companies involved in the unfair and deceptive membership sales. The Vermonters paid a total of nearly $130,000 to become members of the discount travel club, which was claimed to offer steep discounts on travel services. The travel club ultimately provided its Vermont members a total of less than $3,000 in discounts. Vermont consumers who purchased the travel club memberships will receive checks in the mail providing partial restitution for the cost of the membership purchases. The amount paid to each Vermonter will be approximately 10 percent of the initial purchase price, or 10 cents on the dollar.

Vermont Business Magazine On Tuesday, November 22, Vermont Businesses for Social Responsibility (VBSR) teamed up with Congressman Peter Welch, Montpelier Mayor John Hollar, Montpelier Alive and other business leaders to emphasize the importance of shopping locally. In his remarks given at The Shoe Horn in downtown Montpelier, Welch said “We’re lucky to live in Vermont where small business all over the state sell original and extraordinary products. And, the owners of these small businesses are our neighbors, our kids’ soccer coaches, and our friends—and most importantly they reinvest their profits right back into our communities. It’s important to support these Vermont businesses with by shopping locally, especially during the busy holiday season.” After the press conference, Rep. Welch was true to his word and did some of his own holiday shopping — locally, of course.

by Timothy McQuiston Vermont Business Magazine United States District Judge Darrin P Gayles in Miami on Monday issued a preliminary injunction against Jay Peak owner Ariel Quiros, while also denying Quiros’ motion to dismiss the SEC complaint against him. The two rulings thus keep in place the federal receiver, forbid Quiros from being involved in any of the related businesses and continue to freeze most of Quiros’ assets. Quiros is charged by the Securities & Exchange Commission of defrauding foreign investors in an EB-5 scheme involving Jay Peak and Burke Mountain resorts and the intended biomedical facility, called AnC Bio, in Newport. Some $200 million was allegedly diverted from projects funded by foreign investors.

Vermont Business Magazine Governor Peter Shumlin, Senators Patrick Leahy (D-Vermont) and Bernie Sanders (I-Vermont) and Congressman Peter Welch issued the following statements related to the announced deployment of the 158th Fighter Wing to the Central Command Area of Operations. Several hundred Vermont Air National Guard volunteers will reportedly deploy to the Middle East or Africa. WCAX-TV reported that the deployment will happen in the next few weeks and last for several months.