Current News
by tim
Vermont Business Magazine Davis and Hodgdon Associates CPAs conducted its semi-annual economic survey in January regarding the outlook of Vermont’s small-to medium-sized businesses, which revealed that respondents have much less confidence in both the Vermont and U.S. economies than they did just six months ago, regardless of their scope of marketplace. Overall more than half of respondents (54%) believe that the Vermont economy is declining as opposed to 37% previously just six months ago.
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Vermont Business Magazine Vermont's US senators have issued their condolences on the death of US Supreme Court Justice Antonin Scalia. He died in Texas on Saturday of natural causes. A political fight is likely to ensue in the Senate over whether President Obama, in his final year, should nominate a replacement, or wait for the new president and new Congress to act, thus leaving the nation's court down one member. Several Republicans have stated that the president should hold off. The president said, however, he intends to go forward and submit a nominee to the Senate for confirmation.
Statement Of Senator Patrick Leahy (D-Vermont), Ranking member, Senate Judiciary Committee, on the death of Justice Scalia, February 13, 2016
by tim
by Mike Smith Governor Peter Shumlin and US Senator Patrick Leahy (D-Vermont) — two experienced Vermont politicians supporting Hillary Clinton — are probably wondering if they made the right political calculation. No doubt they figured that Senator Bernie Sanders would have peaked by now and that most Democrats would be gravitating to Clinton as their nominee to be our next president. By backing Clinton, they must have expected that supporters of Sanders would be initially angry over their endorsements but because the Sanders’ candidacy didn’t amount to much they would ultimately get over it and all would be forgiven. In essence, no harm, no foul.
by tim
Vermont Business Magazine The Las Vegas Sun's Chris Kudialis and the New York Times' Yamiche Alcindor were the print pool reporters at a campaign event in Las Vegas, Nevada, on Sunday. Here are the complete, unedited reports.
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Vermont Business Magazine Consumers who used MoneyGram’s wire transfer service to send money to third parties involved in schemes to defraud them may be entitled to compensation under a multistate settlement between Attorney General William H. Sorrell, other state attorneys general, and Dallas-based MoneyGram Payment Systems, Inc.
“Con artists use a wide variety of schemes to persuade consumers to wire them money and wire transfer companies have a responsibility to help stop them,” said Attorney General Sorrell. “If you receive solicitations promising big winnings, toss the letters in the trash, delete the e-mail, or hang up the phone. If you are contacted about a grandchild, friend or family member in distress, verify independently that the person actually is in need of the assistance.”
by tim
Vermont Business Magazine The Senate Finance Committee on Friday passed by a vote of 6-1 S241 – legislation to legalize marijuana in Vermont. The Finance Committee set a marijuana excise tax of 25 percent, which excludes medical marijuana. Governor Peter Shumlin has sought a bill (see full bill below) that seeks to legalize what he says many Vermonters are using anyway, while pushing illegal drug dealers out of the marketplace. If the bill passes through the Senate, it faces an uncertain future in the House. Speaker Shap Smith said earlier in the session that he agrees with the governor that a legalization bill should be intended to curb criminal drug dealing rather than an opportunity to increase state tax revenues. However, while he believes a legalization bill will become law, he does not believe it will happen this year. Advocates of legalization are pushing hard this year because next year will bring a new Legislature and a new governor.
by tim
Vermont Business Magazine The Vermont Attorney General’s Consumer Assistance Program (CAP) is warning of several scams currently targeted at Vermont businesses. If your firm has experienced any of these scams, please report them to the Consumer Assistance Program online at www.uvm.edu/consumer or by calling 800-649-2424.
by tim
Vermont Business Magazine SymQuest Group, Inc, a wholly-owned subsidiary of Konica Minolta Business Solutions U.S.A., Inc., celebrated 20 years as Northern New England’s premier IT services and copier company on Tuesday, February 9. “What a thrill it is to witness the advances of business technology,” said Larry Sudbay, SymQuest’s President and CEO. “In just 20 years we have seen incredible improvements in the way we communicate, work, and experience life. As technology is continuously changing the way we work, one constant remains the same: SymQuest is committed to building a quality company and earning your business every day.”
by tim
Vermont Business Magazine Maine Drilling & Blasting, which services clients in Vermont and across the region, celebrates the importance of local service to its own success over the past half-century by establishing named scholarships at local universities and technical colleges throughout its service area. For Maine Drilling & Blasting, it all started with service. Hard work, honesty and quality service were the simple yet sacred principles upon which Ted Purington, Sr. and his wife, Judy, founded the company in Gardiner, ME, back in 1966. Throughout the years that followed, the Company expanded its footprint from Maine to New England, then on through the Northeast, and now through the Mid-Atlantic region. During this growth, MD&B’s founding principles remained constant, as did MD&B’s deliberate focus on local service. “We’ve always worked to grow regional markets with local people,” explains Company President & CEO, Bill Purington.
by katie
Vermont Business Magazine ReSOURCE is once again providing $150,000 in essential goods to alleviate poverty in Vermont through the Essential Goods Program. By obtaining vouchers, individuals and families in need can receive donations of those durable goods essential to safe and comfortable living such as cookware, mattresses, bed frames, dressers, books, washing machines, ranges, toys for kids, and even desktop computers. ReSOURCE’s Essential Goods Program also supports sister nonprofit organizations, helping them meet their own organizational needs for information technology, office furniture, and appliances.
by tim
Vermont Business Magazine Valener Inc, the public investment vehicle in Gaz Metro Limited Partnership, today reported normalized operating cash flows of $10.4 million for the first quarter of fiscal 2016, or $0.27 per common share, compared to $9.9 million or $0.26 per common share in the first quarter of 2015. The company also declared a quarterly dividend of $0.27 per share, in line with the plan announced in autumn 2015. The Energy Distribution segment in Vermont, through its subsidiaries Green Mountain Power Corporation (GMP) and Vermont Gas Systems Inc. (VGS), recorded net income attributable to Partners of $18.3 million for the first quarter of fiscal 2016, up $2.4 million or 15.1%, year over year.
by katie
Vermont Business Magazine Citizens Bank has again contributed $10,000 to the Vermont Foodbank, to make more food available for Vermonters in need. This most recent gift marks the fifth consecutive year Citizens Bank has supported the Vermont Foodbank.
“Corporate partners are essential to the work of ensuring our Vermont neighbors have enough healthy food,” said John Sayles, Vermont Foodbank CEO. “Citizens Bank has time and time again demonstrated their commitment to enriching our communities—we are so grateful for their loyal support.”
“Many of our neighbors lack reliable access to food on a daily basis. At Citizens Bank, we work to address this need by supporting innovative programs and organizations that provide access to nutritious food,” said Joe Carelli, President, Citizens Bank, Vermont. “That is why we are proud to support the Vermont Foodbank in their work to fight hunger in our communities across the state.”