Current News

Vermont Business Magazine Braeburn Pharmaceuticals announced today that healthcare provider training and certification for Probuphine will take place on July 29 and 30 in Burlington. Approved by the Food and Drug Administration (FDA) on May 26, 2016, Probuphine is the first implant for the maintenance treatment of opioid dependence in patients who have sustained clinical stability on low-to-moderate doses of buprenorphine, specifically 8 mg or less per day.  

Vermont Business Magazine Nearly every state received an 'F,' so Vermont's grade of 'C' puts it among the elite states for health care price transparency. New Hampshire again received the top mark. Most states could be doing more to give consumers the price information they need for making educated health care choices, according to an annual report card released by two independent health policy organizations. The report not only identifies the states failing at health care price transparency, but also lauds the few high-performing states and outlines practices lagging states should emulate. 

Vermont Business Magazine The Vermont Agency of Agriculture, Food and Markets and the Department of Health want Vermonters to be aware that a common weed found along many Vermont roadsides can cause painful rashes and raised blisters, similar to second-degree sunburn. "Poison parsnip" (Pastinaca sativa L.), also known as wild parsnip, is found throughout the state. The plant produces a sap that reacts to sunlight, and skin that comes in contact with the sap becomes hyper-sensitive to ultraviolet light. It may take several hours after exposure for burns to develop, and some of the skin damage can be serious.

Wild parsnip produces small yellow flowers that look like Queen Anne's Lace. It is a close relative of carrots, parsley, angelica and giant hogweed, all of which can cause similar skin reactions in sensitive individuals.

Vermont Business Magazine People's United Bank, NA has announced that its subsidiary, People's Securities, Inc, has entered into a definitive agreement to acquire Gerstein Fisher, a $3 billion, New York City-based investment management firm serving individuals and families, institutions, and third-party platforms. The transaction is expected to bring People's United Wealth Management's total assets under administration to nearly $20 billion, of which approximately $8 billion is under discretionary management.

Vermont Business Magazine Berkshire Hills Bancorp, Inc (NYSE: BHLB), the parent of Berkshire Bank with branches in southwestern Vermont, has reported second quarter GAAP earnings of $0.52 per share in 2016 compared to $0.35 in 2015. Core earnings increased to $0.54 per share from $0.51 for these respective periods. Results increased due to expanded operations and improved profitability. Core EPS is a non-GAAP financial measure and is adjusted to exclude net non-core charges primarily related to acquisitions and restructuring activities. GAAP results last year included higher noncore charges related to the Hampden Bancorp acquisition.

Vermont Business Magazine US Senator Bernie Sanders (I-Vermont) took to the podium at the Democratic National Convention Monday night in Philadelphia. He followed Michelle Obama and Elizabeth Warren. He was introduced by Representative Keith Ellison of Minnesota and was led on stage by his Simon & Garfunkel "America" TV ad from last winter. Paul Simon performed "Bridge over Troubled Water" earlier in the evening. Sanders' speech begins at about the 6:48 mark of the video below and lasted 32 minutes.

Bernie Sanders' Speech as Prepared for Delivery with video from Monday night's speech.

Good evening.

How great it is to be with you tonight.

Vermont Business Magazine The campaign of Republican gubernatorial candidate Bruce Lisman today announced that four prominent Southern Vermont leaders have endorsed Bruce Lisman for governor.

Vermont Business Magazine Monday, the Manchester Journal endorsed Phil Scott in the Republican primary and Sue Minter in the Democratic primary for governor. The primary is Tuesday, August 9.

Vermont Business Magazine Northern Power Systems Corp (TSX: NPS), a Barre-based developer and manufacturer of wind turbines, today announced financial results for its fourth quarter and year ended December 31, 2015 on Form 10-K, which comprehensively completes its non-cash restatement of previously issued financial statements which, as the company announced on May 24, 2016, should no longer be relied upon. Northern Power restated its report based on the timing of revenues for foreign sales. It plans to issue first and second quarter 2016 results in August, which it states below will be below prior quarter sales. Revenues for 2015 were $54 million, which were the same as 2014. Net loss in 2015 was $7.8 million compared to a net loss of $8.8 million in 2014. Northern Power is known for its off-grid and remote-location wind generation stations. 

by Public Assets Institute The good news: In May Vermont employers created 900 more jobs than were first reported. According to revised figures released this month, there were 317,300 non-farm payroll jobs in May — up about 100 over April. The bad news? Jobs were down in June by about 1,400. Still, preliminary data show nearly 4,000 more jobs this June than in the same month in 2015.

Vermont Business Magazine Green Mountain Power reported on its Facebook page early Monday that the number of power outages due to Saturday's storm was down to 1,800. Crews are focused on the Royalton area. GMP said in the post that it expects to get power back to all customers today. However, GMP noted that another thunderstorm is expected to hit Vermont later on Monday, which could cause further outages. GMP crews continue to work around the clock, restoring power to 32,400 customers since a wave of powerful thunderstorms swept across Vermont Saturday afternoon. Heavy winds blew down large trees onto power lines and cutting power across the state. About 1800 customers in the areas around the Royalton and White River Districts that sustained the most severe damage remain without power, and an army of crews is working to restore power to them as quickly and safely as possible.

Vermont Business Magazine People's United Financial, Inc (NASDAQ: PBCT) has reported net income of $68.5 million, or $0.23 per share, for the second quarter of 2016, compared to $61.7 million, or $0.20 per share, for the second quarter of 2015, and $62.9 million, or $0.21 per share, for the first quarter of 2016. The Company's Board of Directors declared a $0.17 per share quarterly dividend, payable August 15, 2016 to shareholders of record on August 1, 2016.  Based on the closing stock price on July 20, 2016, the dividend yield on People's United Financial common stock is 4.4 percent.