Current News

Vermont Business Magazine According to the Vermont Attorney General, Vermonters are continuing to report receipt of threatening recorded phone calls (robocalls) that claim to be from the IRS or the United States Treasury. Today, calls appear to be targeting Barre, Brattleboro and Burlington. We can expect that calls will be directed at consumers in other municipalities later this week. The caller threatens arrest or legal action if an alleged outstanding debt to the IRS is not immediately paid. The caller demands payment by either cashier’s check, wire transfer, bank transfer, or other direct and immediate means of payment, such as a gift card. If the call is not answered, the caller then leaves a message that directs the consumer to call a phone number or face arrest. This is not the IRS calling – this is a scam.

Vermont Business Magazine The Vermont Agency of Natural Resources today issued a final Water Quality Certification for local hydroelectric company Morrisville Water and Light. The certification includes conditions that the company must follow in order to meet current Vermont Water Quality Standards. Morrisville Water and Light is at the end of the Federal Energy Regulatory Commission (FERC) relicensing process for their hydroelectric project, which includes generating stations in Cadys Falls, Morrisville, Green River, and Lake Elmore. The new FERC license will be issued for a term of thirty to fifty years. To receive the license, Morrisville Water and Light must receive a certification from the State that the project will be operated in a manner that does not violate Vermont Water Quality Standards.

Vermont Business Magazine The State of Vermont has again been awarded the top US Domicile for “Vermont’s inability to stand still and its continued desire to lead the captive industry.” This is the fourth year that the State of Vermont has been honored with this award, which was presented by Captive Review Magazine during the US Captive Services Awards held on August 8 in Burlington, Vermont. Judges commented that “despite Vermont being one of the most mature domiciles in the world, its net captive formation numbers remain positive while premium and asset under management figures are the largest in the world.” The award describes Vermont as “investing in its captive and RRG examination team as well as the solid commitment demonstrated by state government in the annual update of captive legislation.”

Vermont Business Magazine Bellows Falls-based Sovernet Communications, a leading fiber-optic bandwidth infrastructure services provider operating in Vermont, New York and southwest New Hampshire, announced Monday that it has entered into a definitive agreement to be acquired by Oak Hill Capital Partners. At the closing of the transaction, Oak Hill intends to combine the operations of Sovernet with FirstLight Fiber, which Oak Hill previously announced an agreement to acquire. FirstLight is another leading provider of fiber optic communications in the Northeast. Financial terms of the transaction were not disclosed.

Vermont Business Magazine The Vermont Teddy Bear Company hosted a special off-site “Field Trip” event on Monday, August 8^th as part of this year’s Vermont Captive Insurance Association’s 35^th Annual Conference, which runs from Tuesday August 9-Thursday August 11 at the Sheraton Burlington. The conference is the captive insurance industry's premier worldwide event.

“We couldn’t be happier to be a part of this important conference, especially as we are also celebrating our 35^th anniversary this year,” said Bill Shouldice, Chief Executive Officer of the Vermont Teddy Bear Company. “Captive insurance is an extremely important part of Vermont’s economy, and we are happy to share our experience and expertise to help further innovation and education in the captive insurance industry.”

Vermont Business Magazine VSECU, a member-owned cooperative and not for profit credit union for everybody in Vermont, is now accepting applications for its Student LIFT debt repayment program. The unique program awards three Vermonters with $5,000 each, to use towards student loan payments. In contrast to typical scholarship programs, Student LIFT aims to empower former students to reduce the burden of student loan debt. Student loan debt can be a significant expense long after students leave college. Research from the Institute for College Access & Success found that 65 percent of Vermonters hold student debt balances, with an average debt of $29,060.

Vermont Business Magazine The 20^th annual Rabies Bait Drop begins August 9 in eight Vermont counties as part of a continued effort to stop the spread of rabies among wildlife. Rabies is a viral disease that is mainly found in raccoons, foxes, bats and skunks, and can infect domestic animals and people. Rabies vaccine, if given soon after a human is bitten by a rabid animal, is highly effective. However, rabies is almost always fatal without immediate medical treatment.

The Vermont Department of Health will work in collaboration with the U.S. Department of Agriculture’s Wildlife Services to drop approximately 450,000 baits containing ONRAB oral rabies vaccine. Baits will be dropped in parts of Addison, Caledonia, Chittenden, Essex, Franklin, Grand Isle, Lamoille and Orleans counties.

Vermont Business Magazine Merchants Bank donated $5,000 to the ChittendenEmergency Food Shelf at the Festival of Fools celebration in Burlington, VT., on Sunday, July 31. The Bank's$5,000 donation will provide 15,000 meals to neighbors in need. The Chittenden Emergency Food Shelf works to alleviate hunger by feeding people and cultivating opportunities. As the largest direct service emergency food provider in Vermont, the Food Shelf serves roughly 11,000 people each year.

Christine Auriemma, Regional Banking Manager; Erika Baldasaro, Community Banking Division and Sales Manager; Emmet Moseley, Food Truck Manager at Chittenden Emergency Food Shelf ; Maryann Russell, Community Banking Manager

Vermont Business Magazine With the Primary Election tomorrow, Tuesday August 9^th, Secretary of State Jim Condos would like to remind all Vermonters about the importance of voting. Please see the important information regarding the election below.

by Mike Smith There was a philosophy instilled in me when I was training to become a Navy SEAL. Instructors would constantly bellow, “It pays to be a winner!” Although this philosophy was mostly associated with various physical exercises, the underlying meaning had real purpose: that losing could have serious consequences, it could even mean death, especially in combat.

In business and politics, there was once a similar philosophy: Work hard, be honest, persevere and you will succeed. In this context the “it pays to be a winner” philosophy was an uplifting message, meaning that striving for success would be rewarded.

Vermont Business Magazine The Department of Environmental Conservation announced Friday that the Environmental Court has issued an Order against Meadowcrest Campground, LLC for violations of the Vermont Water Supply Rules at the Meadowcrest Campground in Marshfield. The Order requires the campground owner to pay a $9,000 penalty and to implement various corrective actions. Meadowcrest owns and operates a Public Transient Non-Community (TNC) Water System which serves the Campground. The system serves approximately fifty-six people through twelve travel-trailer sites, two tent sites, and a one-bedroom house. On March 15, 2011, Meadowcrest received authorization from the Department to operate the system under the General Operating Permit for Class 1 A TNC Public Drinking Water Systems.

Vermont Business Magazine The Department of Children & Families is committed to keeping children connected to their families, communities, and schools. Foster and kinship families help us keep this commitment by opening their homes and their hearts to children in need. They provide safe and nurturing temporary homes for children, support parents as they work towards reunifying with their children, and truly make a difference in their lives.

Their commitment leaves an indelible mark on families for generations and we are extremely grateful for their dedication. Because of them, we are able to live up to our mission to "keep local kids local". Being able to stay in their own schools -with their friends, teachers, afterschool activities, and familiar surroundings - can make a huge difference in the lives of children and youth in foster care.