Current News

Vermont Business Magazine Northern Power Systems Corp (TSX: NPS), a next generation renewable energy technology company based in Barre, announced that WEG SA (Bovespa: WEGE3 / OTC: WEGZY) and NPS have executed a definitive agreement for WEG to acquire Northern Power System's Utility Wind assets. Northern Power is best known for its smaller (100 KW), distributed wind power facilities located in remote areas. The larger, core business (under 1.5 megawatt wind turbines) will remain in Barre with its approximate 75 employees. The core business did $40 million of the company's $54 million in sales in 2015, according to Vice President and Corporate Controller Eric Larson.

Vermont Business Magazine Merchants Bancshares, Inc (NASDAQ: MBVT), which revealed Tuesday that it will be acquired by Syracuse-based Community Bank System, Inc, (NYSE: CBU) next year, has announced net income of $3.9 million and $0.57 per diluted share for the third quarter of 2016 compared to net income of $4.4 million or $0.63 per diluted share in the second quarter of 2016 and $3.9 million in net income or $0.61 per diluted share in the third quarter of 2015. Excluding acquisition, merger, severance and retirement costs, net of tax, the Company's adjusted net income was $4.3 million or $0.62 per diluted share for the third quarter of 2016. This compares to adjusted net income of $4.2 million or $0.61 per diluted share on a linked quarter basis and adjusted net income of $4.3 million or $0.68 per diluted share in the third quarter of 2015.

Vermont Business Magazine -  Despite news that benchmark premiums on healthcare.gov are increasing by an average of 25% next year, premiums for Vermonters shopping on Vermont Health Connect will remain much more stable. A new tool launched today will allow Vermonters to compare all their health care options for next year ahead of open enrollment which begins November 1.

“I’m happy that Vermonters aren’t facing the double-digit rate increases that many Americans face,” said Steven Costantino, Commissioner of the Department of Vermont Health Access. “But frankly, as long as health care costs outpace inflation, we have to continue to work to make care more affordable.”

Costantino points to three reasons to be positive.

Vermont Business Magazine – Annual savings from generic prescription drugs totaled $377 million for Vermont, according to the new 2016 Generic Drug Savings and Access in the United States report, compiled by the QuintilesIMS Institute on behalf of the Generic Pharmaceutical Association (GPhA).

Vermont Business Magazine - “Eight months ago Republican senators attempted to justify their unprecedented obstruction of a Supreme Court nominee by claiming that the American people needed to be heard through the election.  Now that we are on the eve of that democratic moment, some at last are making clear that this justification was simply a political farce.  It should be alarming to anyone who cares about the fair administration of justice, and the integrity of America’s judiciary, that some Republicans are already seeking to undermine the outcome of the upcoming election and further prevent our independent judiciary from fulfilling its constitutional role.  These Republicans are proving that they have no intention of doing their jobs and that their blockade of judicial nominees is purely driven by politics. 

Vermont Business Magazine - U.S. Senate candidate Scott Milne today unveiled a plan to achieve term limits in Congress.

Milne has taken a two-term pledge and his campaign is focused on government reform.  

“The longer a person is in Washington, the cozier they get with lobbyists and special interests, and the further removed from the people and values that sent them there.

Vermont Business Magazine - By Patrick Leahy More than 500 million people recently learned that the highly sensitive information they provided Yahoo was hacked and stolen.  The stolen data included usernames, masked passwords, email addresses, telephone numbers, dates of birth, and security questions and answers.  This treasure trove of information has the potential to allow criminals to hack into other accounts of these same consumers, including online bank accounts or social media profiles, by decrypting the passwords or using their security questions.  As a result, anyone with a Yahoo account faces a serious risk of identity theft and financial fraud.  Making a bad situation worse, it appears that Yahoo took more than two years to notify its customers of the breach.  Americans deserve better than this.

Vermont Business Magazine The Burlington Electric Department today is encouraging the Burlington community to contribute to the WARMTH Support Program of the Champlain Valley Office of Economic Opportunity (CVOEO), leading by example with its own $20,000 gift that will help Burlingtonians and Vermonters with heating emergencies this winter.  During last year’s 2015-16 heating season, WARMTH served 394 Burlington households with 648 assists, or direct payments to BED to keep the heat on, totaling more than $53,000.

Vermont Business Magazine - The U.S. Department of Agriculture (USDA) provided capital support to 17 Vermont businesses transitioning to renewable or energy efficient technologies to cut costs and reduce energy consumption this year. Vermont farms and small businesses used more than $3 million in grants and loan guarantees through USDA Rural Development’s Rural Energy for America Program (REAP).

“Energy costs remain one of the largest expenses for a rural small business,” said USDA Rural Development State Director Ted Brady. “By providing these businesses with capital, the USDA aims to incentivize small businesses and farms to invest in new technology that not only increases their profitability, but also reduces greenhouse gases, fossil fuel consumption, and increases our nation’s energy independence.” 

Vermont Business Magazine - The Centers for Medicare & Medicaid Services (CMS) and the state of Vermont jointly announced today the Vermont All-Payer Accountable Care Organization (ACO) Model, a new initiative aimed at accelerating delivery system reform for Vermont residents. The Vermont All-Payer ACO Model aims to transform health care for the entire state and its population.

Vermont Business Magazine On Wednesday, the Green Mountain Care Board (GMCB) voted to approve the experimental all-payer waiver agreement. Gov. Shumlin will sign the All-Payer Model (APM) into law on Thursday, once again overhauling the state’s healthcare system. Expressing a lack of confidence in the Shumlin Administration, House Republican Leader Don Turner asked GMCB Chair Al Gobeille to provide a letter before the vote, assuring that the APM complies with all the benchmarks (including the requirements for any Medicare waiver agreement made between Vermont and the federal government), as specified under Act 113 of Vermont law.

Vermont Business Magazine - Gov. Peter Shumlin today announced the appointment of Otto Trautz to replace Washington County Assistant Judge Otto Kinzel.

“Otto’s longstanding experience with state government, his budget expertise, and his thoughtful temperament make him a strong addition to Vermont’s assistant judges,” Gov. Shumlin said.