Current News

Vermont Business Magazine The US Food and Drug Administration has awarded a $950,000, three-year grant to a consortium of 12 northeastern states and the District of Columbia to promote food safety on small and medium-sized produce farms and food processors in the region. The consortium, called the Northeast Center to Advance Food Safety (NECAFS), and the award will be managed through the University of Vermont Extension. Chris Callahan, an agricultural engineer at UVM Extension, is project director.

Vermont Business Magazine Vermont organizations will get more than $1.4 million in NeighborWorks America grants to revitalize communities and support access to affordable housing across the state. The award was announced jointly today by Senator Patrick Leahy (D-Vermont), Senator Bernie Sanders (I-Vermont) and Representative Peter Welch (D-Vermont). NeighborWorks America is a public nonprofit established by Congress to invest in revitalizing communities and preserving affordable housing across the country.  In Vermont, five NeighborWorks affiliate organizations receive these annual funds to support homeownership counseling, the creation of much-needed new affordable housing, home repair and energy efficiency assistance grants.  Since its creation, NeighborWorks has been recognized for its partnership between community, public and private stakeholders that successfully leverage an average of $50 in other investments for every $1 appropriated. 

by Vicky Parra Tebbetts Community Capital of Vermont is not a typical small business lender. Their loan officers are not typical bankers; their borrowers are not typical business people. Quietly, this non-profit lender in Barre is backing unexpected entrepreneurs statewide who have been turned down by banks and conventional financers, usually on the basis of credit or collateral. Is it risk or opportunity? At CCVT, the glass is half full.

Vermont Business Magazine Moody’s Investors Service yesterday upgraded the City of Burlington’s credit rating two full steps to A3 with a stable outlook, returning the City of Burlington to an “A” rating. Of the six ratings steps that Burlington lost between July 2010 and June 2012 in the wake of Burlington Telecom’s financial struggles, three have now been restored in two upgrades over the last year (scroll down to view Burlington ratings table).

by Mike Faher/The Commons Vernon Voters on Tuesday overwhelmingly supported a proposed gas-fired power plant, paving the way for developers to push forward with a 600-megawatt facility that could be built in the shadow of Vermont Yankee. There were 677 “yes” votes and 153 “no” votes in response to a simple, non-binding referendum question: “Do you support a natural gas–fired electric generating plant being located in Vernon?”

Winhall resident Don Campbell, who has been leading the plant-development charge, called the results “breathtaking,” given how many questions had been raised about the proposal.

“I’m very pleased with the outcome of the vote and the community support,” Campbell said. “I think that this sends a very strong signal to investors who are weighing Vermont versus other potential generating sites.”

by Mike Faher/The Commons, Brattleboro The first truck containing contaminated groundwater has departed from Vermont Yankee, and many more will follow. At a February 25 meeting in Brattleboro, Entergy administrators disclosed that they have begun shipping the fluid — which is flowing with unexpected intensity into the plant’s turbine building — to a disposal site in Tennessee. Officials have said the water is contaminated with relatively low levels of tritium, a radioactive isotope of hydrogen. But as the liquid leaves the Vernon plant in quantities of roughly 5,000 gallons per load, area residents shouldn’t expect to see any convoys or even specially marked trucks.

Vermont Business Magazine Roger Allbee of Townshend has been elected chair of the board of trustees of Union Institute & University at its quarterly meeting on January 28, 2016 in Cincinnati, Ohio. Allbee served as vice chair from 2013 to 2015 and has been a member of the board since July 2011. Union Institute & University President Roger H Sublett said he is grateful to Allbee for his dedication and commitment to Union. Allbee is CEO of Grace Cottage Hospital and Rural Health Clinic in Townshend, Vermont. 

“We are indeed fortunate to be led by this visionary leader. Mr. Allbee is an outstanding advocate of Union’s goal to transform lives and communities. His expertise and experience will assist Union in its mission to engage, enlighten, and empower adult learners to pursue a lifetime of learning, service, and social responsibility.”

Vermont Business Magazine The Department of Vermont Health Access (DVHA) has mailed final renewal notices to more than 5,800 Medicaid and Dr. Dynasaur members. DVHA urges members who receive a letter to act immediately to ensure that they don’t have a gap in health coverage. The letters, which inform members that their coverage was set to end on February 29, follow on the heels of a January notice and February reminder. Members who missed the deadline and lose coverage should still apply for new coverage as soon as possible. Whether they can get coverage will depend on 1) how soon they apply and 2) whether they are ruled eligible for Medicaid.

Commentator Tim McQuiston believed the sale of Keurig Green Mountain would come eventually, but not imminently and not to the company that has now acquired it.

Vermont Business Magazine Waterbury-based Keurig Green Mountain, Inc (NASDAQ: GMCR) and JAB Holding Company today announced the successful completion of the acquisition of Keurig Green Mountain by a JAB-led investor group. The acquisition was announced on December 7, 2015, and the $13.9 billion transaction closed and became effective today. Under the terms of the transaction, Keurig Green Mountain stockholders will receive $92.00 per share in cash for each share they own. The transaction was approved by Keurig Green Mountain stockholders at a special meeting of stockholders held on February 24, 2016. As a result of the completion of the acquisition, Keurig Green Mountain's common stock ceased trading on the NASDAQ Global Select Market before the opening of market today. Keurig shareholders approved the deal last Wednesday.

by Governor Peter Shumlin I’ll admit that I don’t understand how Washington D.C. and Congress work most of the time. For years, Republicans in Congress have thrust the institution into perpetual gridlock, so much so that it struggles to fulfill its most basic responsibilities. Even after the death of a Supreme Court Justice, Senate Republicans are refusing to even hold hearings on a replacement. So it is surprising to say the least that Congress is now looking like it might actually do something. Unfortunately that something would be to ban Vermont from enacting our law to require labeling of genetically modified organisms (GMOs) to ensure our citizens have the right to know what is in their food.

Vermont Business Magazine Blue Cross and Blue Shield of Vermont (BCBSVT) is the number one Blue Cross and Blue Shield Plan in America in overall service to its members. The independent, locally managed plan achieved the highest possible ranking in member satisfaction and efficiency metrics for the third year in a row, retaining its first-in-the-nation status among Blues plans. “The focus of our company is on creating positive member experiences, and our entire organization shares that commitment” Don George, BCBSVT President and CEO said. “We are very pleased to have received the distinction of being the top performing Blue Plan three years running and we continue to look for ways to improve the service we provide to Vermonters.”

Don George, BCBSVT president.