Current News

Vermont Business Magazine People's United Financial, Inc. (NASDAQ: PBCT) on Thursday reported net income of $73.7 million, or $0.24 per share, for the third quarter of 2016, compared to $68.4 million, or $0.23 per share, for the third quarter of 2015, and $68.5 million, or $0.23 per share, for the second quarter of 2016. Included in this quarter's results were merger-related expenses of $3.1 million ($2.1 millionafter-tax), or $0.01 per share. The Company's Board of Directors declared a $0.17 per share quarterly dividend, payable November 15, 2016to shareholders of record on November 1, 2016.  Based on the closing stock price on October 19, 2016, the dividend yield on People's United Financial common stock is 4.3 percent.

Public Assets Institute, Montpelier This January, Vermont will have all new leadership at the State House. It’s the perfect time to zero in on three initiatives that are fundamental to Vermonters’ lives: 1) Ensure that work pays and families meet their basic needs; 2) Make smart evidence-based investments; 3) Restore public confidence in state government.

Vermont Business Magazine Today, the Vermont Troopers Association announced its support for Phil Scott for governor. “The Vermont Troopers Association is proud to endorse Phil Scott for Governor,” said the Association’s President, Sergeant Michael O’Neil. “Phil has a long track record of working with the law enforcement community and understands the daily challenges of the job. Lt. Governor Scott has said on many occasions that a critical role of government is ensuring public safety.  We look forward to working with him in the future to improve fair and impartial law enforcement standards, combat the opiate epidemic, and address the array of issues Troopers face everyday in Vermont,” O’Neil added.

Vermont Business Magazine US Senator Bernie Sanders (I-Vermont) announced Thursday that the US Department of Labor awarded $4.3 million to a St Albans-based nonprofit, Vermont Associates for Training and Development, to expand their efforts to provide job training and employment services for low-income seniors. In addition to helping Vermonters, the boost in federal funding will allow Vermont Associates for Training and Development to replicate their employment services program in Maine and throughout large swaths of New York and Pennsylvania.

The funding announced Thursday was authorized as part of the Older Americans Act, which provides critical social and nutrition services for seniors in Vermont and throughout the United States. Sanders has called for significantly increasing funding for Older Americans Act programs and helped lead congressional efforts to reauthorize the law earlier this year.

Vermont Business Magazine Darn Tough Vermont, the Northfield-based manufacturer of the fastest growing collection of performance outdoor and lifestyle socks, continues to acquire market share through aggressive growth in multiple categories.  With a formidable annual sales forecast, Darn Tough is seizing upon opportunities in the Lifestyle, Junior and Work markets, it reported today.        

Ric Cabot meets and greets at last November's famous "sock sale" at the manufacturing plant in Northfield. VBM photo.

Vermont Business Magazine Mayor Miro Weinberger, joined by leading Vermont environmental advocates, addressed today the environmental benefits of redeveloping the declining Burlington Town Center (BTC) into a mixed-use, City neighborhood. The supporters announced at the event included the Conservation Law Foundation, the Vermont Natural Resources Council, the Vermont Energy Investment Corporation, the Burlington Electric Commission, and the Chittenden County Regional Transportation Commission.

Vermont Business Magazine The first annual Vermont Road Pitch “Pitch-Off” was held at Champlain College on Tuesday, October 18. Augustine (Gus) Rietsema from MacroFuel Food won the statewide Pitch-Off, edging out 10 other talented entrepreneurs. Earlier this summer, 11 businesses won local and regional Road Pitch competitions to qualify for the Statewide Pitch-Off.  Fresh Tracks Road Pitch is a 5-day motorcycle tour that brings 45 riders with investment and business experience to towns throughout Vermont to hear business ideas from local entrepreneurs. Each entrepreneur presents a 7-minute pitch to the group of judges, followed by a question and answer session. The judges rate each pitch on a number of business variables and choose one winner.

Vermont Business Magazine More than 460 business, community, environmental, and government leaders gathered over 2-days at the 16^th Annual Renewable Energy Vermont Conference & Expo held October 13 & 14 in S. Burlington.  Recognizing legislative, citizen, and industry champions and innovators for their outstanding contributions toward securing our sustainable energy future, Renewable Energy Vermont (REV) presented the following 2016 Renewable Energy Awards.

“In today’s climate, it’s even more important to recognize our fellow Vermonters who quietly work every day to deliver renewable energy and efficiency value in their communities.  These awards show the breadth and scope of who makes energy work here in Vermont – from local companies, towns, large and small utilities, to legislators. Truly, our clean energy transformation needs and takes all of us collaborating together,, said Jeff Forward, Chair of the Renewable Energy Vermont board.

Vermont Business Magazine The Agency of Natural Resources is starting a rulemaking process to promote four special Vermont wetlands to Class I status, the highest level of state protection under the Vermont Wetland Rules. The four wetlands vary in size, region, and function, but all have been determined to be irreplaceable or exceptional in their contribution to Vermont’s natural heritage. These wetlands are the Black Gum Swamps in Vernon, Dennis Pond Wetlands in Brunswick, Chickering Fen bog in Calais, and the Sandbar Wetlands in Milton and Colchester.

by Timothy McQuiston Vermont Business Magazine The Burlington Education Association, which is the union representing the city's teachers, and the Burlington School Board reached a tentative agreement Wednesday evening that will avert a strike that could have happened as early as Thursday. The agreement between negotiators and mediator Ira Lobel will still need to be ratified by the Board and the BEA. The BEA will meet Monday. School will go ahead as usual for the rest of this week. Terms of the agreement were not available, but the BEA said on its Website that it is for a one-year contract.

Vermont Business Magazine sonnen celebrated a milestone Wednesday at the ribbon cutting ceremony for the McKnight Lane Affordable Housing Development in Waltham, Vermont, the first net-zero, low-income rental housing development in the country. The project is led by the Addison County Community Trust and Cathedral Square. It represents the efforts of a coalition of stakeholders from community development agencies, industry, Vermont government, philanthropy, and the nonprofit sector to transform a blighted mobile home community into an energy resilient community using solar plus the sonnenBatterie smart energy storage technology.

by Rob Roper Back in December of 2014 Representative Tony Klein (D-East Montpelier), chair of the House Natural Resources & Energy Committee, gave an interview about Carbon Tax legislation he planned to take up. Klein admitted he did not expect a bill to pass in 2015 or even 2016, stating, “It’s at least a three-year process,” and that “you don’t [pass a massive tax increase] in an election year.”

Well, after we get past this election year of 2016, we’ll be coming up on three years into the process of passing a Carbon Tax that would add 88¢ to every gallon of gasoline, $1.02 to every gallon of diesel and home heating oil, with similar increases for natural gas, propane, kerosene, butane and aviation fuel. Should Vermonters be worried? Absolutely.