Current News

Vermont Business Magazine HNI Corporation (NYSE: HNI), based in Iowa, has announced sales for the fourth quarter ended January 2, 2016, of $596.9 million and net income of $32.2 million, or  $0.71 per diluted share. Non-GAAP net income per diluted share improved 40 percent from the prior year quarter to $0.91, which excludes restructuring, goodwill and intangible impairment and transition costs. The Vermont Castings Group acquisition increased sales $62.7 million. HNI acquired Vermont Castings from its Kentucky-based owner in 2014. It subsequently closed the Bethel assembly plant in 2015, while the Randolph foundry remains in operation.

Fourth Quarter and Year End Summary Comments

Vermont Business Magazine The Vermont Housing & Conservation Board has committed $3,953,500 to develop, rehabilitate and preserve 220 affordable homes in settings ranging from shared elderly housing in Rochester, to new construction in White River Junction, redevelopment of deteriorated public housing in Rutland, energy retrofit and rehabilitation of apartments in Bennington, Bradford, and Wilder, and mobile home parks in Hardwick and Ludlow.  The VHCB commitments of state funding will leverage $32.6 million in other public and private funds.

Vermont Business Magazine Bernie Sanders on Saturday congratulated Hillary Clinton on her victory in Nevada’s closely-contested caucuses and looked ahead to carrying his campaign for the White House to primaries and caucuses across the country. With 95 percent of precincts reporting by Sunday morning, Clinton won 19 delegates with 52.7 percent of the vote and Sanders won 15 delegates with 47.2 percent of the vote, according to the Associated Press.

“I just spoke to Secretary Clinton and congratulated her on her victory here in Nevada. I am very proud of the campaign we ran. Five weeks ago we were 25 points behind and we ended up in a very close election. And we probably will leave Nevada with a solid share of the delegates,” Sanders said.

Gen Z's Changing World and 2025 Insights for Marketers

by Joan Goldstein The objective? Jobs — good paying, clean jobs to help fuel economic growth. States throughout the country engage in fierce competition for job creators and economy builders. They throw huge sums of money at the problem hoping to attract a big company. Vermont takes a very different approach. In Vermont, our small scale, rural landscape, and small population means we have to find other ways to grow our economy.

And now, the Center for Budget and Policy Priorities just released a new report that validates Vermont’s economic development approach. The report fully endorses the economic development strategy and programs in place in Vermont. Here’s what Vermont does, and what the report says is the right thing to do:

Vermont Business Magazine On March 1, 2016, New England Federal Credit Union (NEFCU) will begin accepting applications for its 2016 Science, Technology, Engineering, and Mathematics (STEM) Scholarships. Three scholarships of $3,000 each will be awarded. To be eligible for NEFCU STEM Scholarships, applicants must be New England Federal Credit Union members. Anyone who lives, works or attends school in the six counties of northwestern Vermont is eligible for membership. In addition to NEFCU membership, applicants must be pursuing one of these fields of study:

• Biological Sciences

• Physical Sciences

Vermont Business Magazine The Peace Corps has announced that the University of Vermont ranked No. 6 among medium-sized schools on the agency’s 2016 Top Volunteer-Producing Colleges and Universities list. This is the fifth straight year that UVM has ranked among the top 10 medium-sized schools, with 31 Catamounts currently volunteering worldwide. “The Peace Corps is a unique opportunity for college graduates to put their education into practice and become agents of change in communities around the world,” Peace Corps Director Carrie Hessler-Radelet said. “Today’s graduates understand the importance of intercultural understanding and are raising their hands in record numbers to take on the challenge of international service.”

Vermont Business Magazine With 10 graduates currently volunteering worldwide, Saint Michael’s College in Colchester ranked No. 11 among small schools on the Peace Corps’ 2016 Top Volunteer-Producing Colleges and Universities list, the agency announced Thursday. Saint Michael’s, which became an official Peace Corps Prep site last year, leapt up in the rankings, having held the No. 20 rank among small schools in 2015. Alumni from more than 3,000 colleges and universities nationwide have served in the Peace Corps since the agency’s founding in 1961, including 191 from Saint Michael’s.

St Michael's campus by Jeff Clarke.

by Tera Dacek The craft beer industry is a breeding ground for communities. Whether it is a random Wednesday night at your local brewery with a group of friends, a yoga class, new release or a festival, breweries have the habit of bringing people together. So, it’s really no surprise that the digital landscape mimics what happens at the brewery. Social media keeps beer lovers in the know with their favorite beers, and apps like Untappd make it quite easy beer for geeks to connect and rate their beers.

Vermont Business Magazine Mayor Miro Weinberger and Vermont Land Trust President Gil Livingston today announced the creation of a new Burlington City park, following the February 18, 2016, purchase by the City and VLT of 12 acres of land for $2 million from developer Burlington College Community Housing, through its principal, Eric Farrell. After a collaborative, citizen-engaged planning process regarding the future of the former Burlington College land on North Avenue, this successful acquisition will include the protection of the property’s community gardens, woodland path, lakeside bluffs, and beach that have been enjoyed by residents for many years. The purchase was unanimously approved by the City Council earlier in February and funded using $500,000 of the City’s dedicated land conservation acquisition fund and leveraging other conservation financing secured by VLT.

Vermont Business Magazine Today Lieutenant Governor Phil Scott, House Minority Leader Don Turner (R-Milton), Senate Minority Leader Joe Benning (R-Caledonia) and fellow legislators called for the Green Mountain Care Board to conduct an independent assessment of Vermont Health Connect. On Wednesday, February 17, the House Health Care Committee took testimony from Gartner Consulting, which recommended Vermont conduct an assessment to determine whether it’s more fiscally prudent to fix components of Vermont Health Connect, transition to the federal exchange or look for an opportunity to work with another state. Many legislators share Vermonters’ lack of confidence that the Shumlin Administration can steer such a process in an unbiased manner.

Vermont Business Magazine The top law enforcement officer in Vermont has joined two of his predecessors in supporting marijuana legalization. Attorney General Bill Sorrell was joined by former Vermont Attorneys General Kimberly B Cheney and M Jerome Diamond in support of S241, the marijuana legalization bill, in a letter to the General Assembly Thursday. Citing the failure of prohibition, the Rand Corporation’s report that 80,000 Vermonters consume marijuana each month, and the danger to public safety created by the underground market, they called upon the Legislature to adopt a responsible, phased-in approach to marijuana regulation in Vermont.