Current News

by Erin Mansfield vtdigger.org The embattled Internet company started by a Brattleboro man now accused of running a Ponzi scheme has agreed to pay back thousands of dollars it owes the state of Vermont. And former managers have bought the broadband assets to create a new company. GAW High Speed Internet, which Homero Josh Garza started under the name Great Auk Wireless in 2005, has agreed to pay Vermont $18,018. The company received the money from the state in January 2014 to build broadband in Rutland County, but the state says it never completed the work. The Attorney General’s Office spent more than a year trying to get the money back.

Josh Garza

Vermont Business Magazine The 2015 Subaru “Share the Love” is in full swing and Twin City Subaru is again participating. Twin City has chosen the Vermont Foodbank as their “hometown charity” to be added to the list of organizations that customers can select to receive the 2015 Subaru “Share the Love” donation.

Vermont Business Magazine Mayor Miro Weinberger today announced the appointment of Justin St. James as the City’s newest Assistant City Attorney. St James, a New Hampshire native, comes to the City of Burlington after nearly four years working as a union attorney and negotiator in Oregon and Vermont. Mayor Weinberger will request the City Council’s approval of this appointment at its December 21, 2015 meeting. If approved, St James will start his service to the City on January 4, 2016. “The City Attorney’s Office plays a critical role protecting taxpayers from financial risks and sorting through complex local governance issues created by emerging technologies and social challenges,” said Mayor Weinberger. “I am excited to add Justin’s considerable experience and energy to this key City Hall team.”

Vermont Business Magazine Reflecting the holiday season hiring, Vermont's weekly unemployment claims, which have steadily increased since the end of the summer, fell steeply last week and once again fell below last year's levels. Generally, claims in 2015 have been running below last year's totals. For the week of December 12, 2015, there were 719 claims, a decrease of 554 from the previous week's total and 148 fewer than they were a year ago. By industry, claims rose again for Construction, typical for this time of year. As has been the trend, Services led all categories with 38 percent of all claims, but were down significantly from recent weeks. Manufacturing fell dramatically from about 200 to about 65.

by Timothy McQuiston Vermont Business Magazine The Vermont Department of Labor announced today that for the third consecutive month the seasonally-adjusted statewide unemployment rate for November was 3.7 percent. This represents no change from the revised October rate (3.7 percent). The national average in November was unchanged at 5.0 percent. Vermont’s unemployment rate is 10th lowest in the country and second lowest in the East behind New Hampshire (tied for 4^{th at 3.2 percent}). Vermont’s ranking, which was second lowest in the US in April 2014, has slipped over the last several months relative to other low-rate states. North Dakota once again was lowest at 2.7 percent and New Mexico was highest at 6.8 percent (see full list below).

Vermont Business Magazine Gifford Medical Center celebrated the opening of 25 new private inpatient rooms on December 17, 2015. The new unit brings an upgraded standard of inpatient care unusual for a small community hospital in Vermont. Private rooms reduce infections and stress, allow medical teams to bring technology and service directly to the bedside, and give patients the privacy they need for bedside consultations and family visits. This model of care has been shown to improve sleep, reduce stress, promote healing, and shorten hospital stays.

Vermont Business Magazine Vermont Electric Cooperative (VEC) has announced a new incentive program to assist maple sugaring operations to move to a future of lower production costs and lower carbon emissions. VEC, with over 400 maple sugar producers in their service territory, is committed to identifying and assisting members that can benefit from fuel switching and emission reduction opportunities through new technology and customized solutions.

Vermont Business Magazine When the Champlain Valley Office of Economic Opportunity’s Growing Money Program surveyed participants in September, one challenge voiced by many was “staying ahead of it all.” The “all” they refer to includes paying bills on time, curbing spending, paying down debt, creating an emergency fund, building the credit score, putting money away for retirement and managing new information in our fast-changing financial culture. Staying “ahead of it all” is especially important and difficult for Vermonters with low incomes, the primary target of Growing Money’s financial classes and coaching services. Merchant’s Bank is donating $10,000 to help fund this vital effort.

Vermont Business Magazine NextCapital, a leading enterprise digital advice firm, has completed its Series B Preferred Stock financing and raised $16 million. The Chicago-based firm is planning to expand in Vermont by establishing an office in Burlington, which will be led by Vermont native Rob Foregger, co-founder of the firm. Vermont is home to a robust technology community and NextCapital’s expanded presence signals the firm’s intent to attract software engineers in the region.

The funding was led by AllianceBernstein (AB), Manulife and Route 66 Ventures. NextCapital's existing shareholders include Transamerica Ventures, Russell Investments, FinTech Collective, Kelvingrove, and Vermont Seed Capital Fund.

"Large financial institutions will win the big shift to scalable personal advice," said John Patterson, Chief Executive Officer of NextCapital.

Vermont Business Magazine Local and State emergency responders will team with the Vermont National Guard (VNG) and federal agencies in a full-scale emergency exercise in Vermont in the summer of 2016. Operation Vigilant Guard will be carried out for one week at the end of July, 2016. 4,000 responders from municipalities, state and federal agencies, the Vermont National Guard, hospitals, utilities, airports, and others will be in emergency operations centers and in the field performing tasks in response to a simulated disaster in Vermont. Crews will be clearing debris, distributing emergency provisions and supplies, and arranging assets from out of state to assist in the response.

Vermont Business Magazine The Boys & Girls Club of Burlington announced today that they received a $20,000 grant from the Comcast Foundation to help expand the My.Future technology initiative, a hands-on technology training to equip Club kids with the skills needed to compete in a 21^st century economy. In celebration of the one-year anniversary of the launch of My.Future, Comcast announced the grant which will provide the Club with funding needed to purchase state-of-the-art equipment and program supplies that allow better academic support for the children and youth who come to the Boys & Girls Club of Burlington.

Vermont Business Magazine VSECU, a credit union for everybody in Vermont, has been awarded a $125,000 grant from the Vermont Public Service Department’s Clean Energy Development Fund to help Vermont residents reduce financing costs for investments in community solar arrays. The funding, available only through VSECU, will be available for a limited time to buy down interest rates on loans used to purchase shares in, or portions of, community solar projects.

“VSECU is committed to helping our members and employees live greener lifestyles, and working to protect our environment through our products and our operational practices,” said Rob Miller, CEO of VSECU. “We are proud to partner with the Clean Energy Development Fund to help power this interest rate buy down program and help make community solar purchases more affordable for Vermonters.”