Current News

Vermont Business Magazine Vermont has risen to the top spot, tied with Massachusetts and the District of Columbia, in health insurance coverage for children, covering all but 2 percent of children for 2014. DC has the fewest in number with 2,000, while Vermont has the fewest among the states with 3,000 children uninsured. Massachusetts and DC ranked first in 2013 with 2 percent, while Vermont was tied for third with 3 percent, according to the KIDS COUNT Child Well-Being Index from the Annie E Casey Foundation. Alaska and Texas have the highest percentages (11 percent). Texas has the most in number with 784,000 children uninsured, but down by more than a 100,000. California is second worst in number with 497,000 (5 percent), which is a drop of nearly 200,000 from 2013. Only Virginia saw an increase (5 to 6 percent ) to 107,000.

Vermont Business Magazine Mach7 Technologies, a global provider of enterprise medical image management solutions based in Vermont, and Melbourne-based 3D Medical Limited (ASX:3DM) announced Monday they have signed a definitive agreement to merge together. The merger, expected to be completed by January 2016, will provide access via public capital markets for Mach7 while preserving corporate self-determination with regard to mission and product roadmap. Upon approval and completion of the agreement, the merged entity will be publicly listed on the Australian stock exchange (ASX) and will trade as "Mach7 Technologies Ltd."

Mach7 and 3DM (formed earlier this year and trading at about AUD$.08) enjoy a strong working relationship in 3DM’s capacity as the exclusive reseller of the Mach7 image management solutions for hospitals and radiology clinics in Australia and New Zealand.

Vermont Business Magazine Senator Patrick Leahy (D-Vermont), Senator Bernie Sanders (I-Vermont), Representative Peter Welch (D-Vermont) and Governor Peter Shumlin Monday announced a $10 million federal grant was awarded from the Department of Transportation to improve rail service along the state’s Western Corridor. The improvements will remove the final hurdle for restoring passenger service between Rutland and Burlington.

Vermont Business Magazine Dr Robert E Simpson, Jr, president and chief executive officer of the Brattleboro Retreat, was presented with the hospital’s 2015 Anna Marsh Award before 200 guests who attended a gala event in Simpson’s honor on Saturday, October 24 at the Hilltop Montessori School’s Arts Barn in Brattleboro. Named for the woman who founded the Brattleboro Retreat, the Anna Marsh Award is an annual recognition established in 2009 to honor individuals for their advocacy on behalf of people with mental illness and addiction. Past honorees include Vermont State Rep. Bill Lippert, Vermont Gov. Peter Shumlin, former Retreat Board members Larry Cassidy and Julie Peterson, the late Vermont State Sen. Robert Gannett, and film and television actor Ken Howard. Simpson has announced plans to step down as the hospital’s CEO at the end of 2015.

Vermont Business Magazine Merchants Bancshares, Inc (NASDAQ: MBVT), the parent company of South Burlington-based Merchants Bank, today announced net income of $3.86 million and $10.31 million, or diluted earnings per share of $0.61 and $1.62, for the three and nine months ended September 30, 2015, respectively. This compares to net income of $2.81 million and $9.62 million, or diluted earnings per share of $0.44 and $1.52, for the three and nine months ended September 30, 2014, respectively.

Vermont Business Magazine Kiplinger’s has released its annual ranking of the most and least tax-friendly states for retirees, with Vermont coming in as the "Least" among all 50 states. The list was unveiled as part of Kiplinger’s Retiree Tax Map—available at kiplinger.com/links/retireetaxmap—which offers an easy-to-use visual guide that compares taxes on income (including Social Security benefits, pensions and other forms of retirement income), property, everyday purchases, and, ultimately, your estate. The guide also reveals special senior tax breaks across all 50 states.

Vermont Business Magazine Citing numerous violations of the law, union nurses at Porter Medical Center filed 11 Unfair Labor Practice charges with the National Labor Relations Board today. "We need to put patients first. Attracting and retaining a quality nursing staff is put at risk when Porter management continues to violate the law and basic principles of respect," stated Alice Leo, RN and President of the Porter Federation of Nurses and Health Professionals, AFT. "We have attempted to reach out to Lynn Boggs, the CEO of Porter, and the Porter Board of Directors but they have been unwilling to meet to discuss our concerns around patient safety.

The charges allege that Porter management has retaliated against nurses for lawful union activity and has failed to bargain in good faith.

Vermont Business Magazine Suburban Propane, LP, one of America’s largest propane retailers, has agreed to pay $311,357 to Vermont consumers, $200,000 to the Low Income Home Energy Assistance Program (LIHEAP) and $200,000 in civil penalties to the State of Vermont, to settle claims that the company violated Vermont consumer protection laws. The Attorney General found that Suburban had a deficient system for complying with Vermont’s timeframes for removing propane storage tanks and issuing refund checks after consumers terminated propane service. Suburban also improperly billed and collected a gross receipts fuel tax, charged a regulatory fee that was not allowed under Vermont law, and terminated some customers without giving a mandatory 14-day notice.

Vermont Business Magazine Casella Waste Systems, Inc (CWST), the regional solid waste, recycling and resource management services company based in Rutland, reported on Friday its results for the period ended September 30, 2015. Revenues and earnings were up and ahead of Wall Street analysts' forecasts. Its annual meeting is November 6. Shares on Monday were $6.15 and were trading at the high end of its 52-week range ($3.41 - $6.75). Casella is involved in a proxy fight with a Texas-based investor. If successful, Chairman and CEO John Casella could be removed from the board.

Highlights for the Three and Nine Months Ended September 30, 2015:

Vermont Business Magazine Lieutenant Governor Phil Scott today issued the following statement on Act 46 and school choice related to school districts seeking to merge. Scott, a Republican, has announced he is running for governor in 2016: "While Act 46 is an imperfect law which, unfortunately, does not provide immediate tax relief, it does create an opportunity to address a significant part of unsustainable and unaffordable increases in property taxes and the inability of many schools to make adequate investments in educational opportunities for our children.

"Rightsizing our education system is a difficult discussion to have, even with the guiding motivations of addressing the economic impacts of rising property taxes and our desire to give every child the best education possible. But we must have it and the Legislature deserves credit for jump-starting this conversation.

by Mike Smith The Shumlin administration announced this past week that absent corrective action by the Legislature the state’s expanded Medicaid program will have a $38 million budget deficit. Enrollments into the program are occurring at a faster rate than estimated. One out of every three Vermonters is enrolled in the taxpayer-funded program. And this challenge is just part of the projected general fund budget gap quietly approaching $100 million.

No doubt the overall cost of providing social services to Vermonters and the network of programs and staff these systems require will be a large part of this year’s budgetary discussion — it always is.

Vermont Business Magazine Last Tuesday the Brattleboro Development Credit Corporation (BDCC) and Southeastern Vermont Economic Development Strategies (SeVEDS) met at Entergy's Governor Hunt House in Vernon for a joint annual meeting. Outgoing BDCC President Dan Normandeau and SeVEDS Chairwoman Ariel Brooks welcomed the public to the event as well as Vermont's Vermont Department of Labor Commissioner Annie Noonan.