Current News

Vermont Business Magazine Lake Sunapee Bank Group (NASDAQ: LSBG) has declared a regular quarterly cash dividend of fourteen cents ($0.14) per common share payable October 30, 2015, to stockholders of record as of October 23, 2015. Lake Sunapee Bank has several branches in Vermont. Lake Sunapee Bank Group is the holding company of Lake Sunapee Bank, fsb, a federally chartered savings bank that provides a wide range of life-cycle banking and financial services.

Vermont Business Magazine Amtrak Vermonter service will operate normally in both directions on Friday, October 9, making all scheduled stops between Washington and St Albans. Amtrak said in a statement that it regrets any inconvenience. Service was disrupted Monday when the southbound train derailed in Northfield because of a rock slide. Seven passengers were sent to local hospitals and all have since been released. Partial service was restored Thursday.

Vermont Business Magazine Renewable Energy Vermont (REV) recognizes a Vermont real estate development company and two Vermonters for their outstanding contributions to the progress of a sustainable energy future at Renewable Energy 2015: “Leading the Energy REVolution”, an annual conference hosted by REV that runs through Friday at the Sheraton Hotel & Conference Center in Burlington. The 2015 Renewable Energy Awards are generously presented by VLITE as part of their continuing commitment to building an energy secure Vermont.

This year’s awardees include:

Vermont Business Magazine Area businesses and nonprofits are increasingly involved with climate change--both its challenges and opportunities. Their creative solutions are becoming a growing part of our state’s economy. What are your experiences? Do you have ideas that can help nurture this sector in Vermont? Join Burlington Mayor Miro Weinberger and local business leaders for the final statewide forum on What’s Next for Vermont’s Climate Change Economy? The Vermont Council on Rural Development (VCRD) is producing this discussion which takes place at Contois Auditorium in Burlington’s City Hall on Thursday, October 29, from 7-9pm.

Vermont Business Magazine Senator Patrick Leahy (D-Vt.) Thursday announced that more than $3 million in U.S. Department of Justice grants will be coming to Vermont to support programs aimed at reducing crime, tackling heroin abuse, and protecting Vermont’s local and state law enforcement officers. The funding, included in Fiscal Year 2015 appropriations legislation, includes $70,977 to help 23 local police and sheriff departments to buy 196 new bulletproof vests for their officers.

Vermont Business Magazine State Treasurer Beth Pearce announced today that the State of Vermont successfully sold $115.58 million in bonds in three different offerings. The sale included $28.52 million in Green Bonds, the first time Vermont has sold such bonds targeted toward investors with socially responsible investment (SRI) objectives. Green Bonds are used to fund projects that have positive environmental and/or climate benefits. Proceeds from these bonds are earmarked for green projects, but are backed by Vermont’s full faith and credit.

Vermont Business Magazine Resolving the troubled finances related to Burlington Telecom is starting to pay dividends for Burlingtonians. Chief Administrative Officer (CAO) Bob Rusten has released the Annual Stability Bond Proceed Report, required by 2013 City Council resolution. The report summarizes the role the Fiscal Stability Bond played over the last three years averting possible fiscal crisis and contributing to the city's improved credit rating. In addition, using the same methodology for the Fiscal Year 2015 report as in the first report for FY14, the CAO estimates that the Fiscal Stability Bond has saved Burlingtonians between $418,000 and $1,735,000 over the past two years in local bonding and financing costs.

Vermont Business Magazine A staff-member of the Associated General Contractors of Vermont has been recognized by the National Safety Council and the Vermont Governor’s for Outstanding Workplace Safety. Norman James, Manager of Project RoadSafe, a workplace driver safety training program at AGC/VT, was honored with the Vermont Governor’s Award for Outstanding Workplace Safety, and the National Safety Council’s Alive at 25 Instructor of the Year award. The National Safety Council has recognized James as its Instructor of the Year for teaching the Alive @ 25 teen driving program and the Governor’s Award was special recognition for James’ efforts in education and outreach for occupational highway safety.

Vermont Business Magazine Entergy Corp. (NYSE:ETR) today announced that its wholesale generation division, Entergy Wholesale Commodities, has entered into an agreement to sell its 583-megawatt Rhode Island State Energy Center (RISEC), located in Johnston, RI, to Carlyle Power Partners. The facility is a natural gas-fired, combined-cycle generating plant that entered commercial service in 2002.

The base sales price is approximately $490 million, subject to closing adjustments. Entergy Wholesale Commodities purchased the plant for $346 million in December 2011. Entergy expects to record a net gain of approximately $0.50 per share assuming closing of the sale occurs in the fourth quarter 2015, subject to working capital and other adjustments. The gain on sale will be classified as a special item, and as such, excluded from operational earnings.

Vermont Business Magazine State leaders gathered together today at Sustainability Academy in Burlington to recognize Farm to School Awareness Month, a statewide celebration of the Farm to School (FTS) Program that connects thousands of Vermont students with fresh, healthy, local foods every year. Among the celebrants were Secretary of Agriculture Chuck Ross, Secretary of Education Rebecca Holcombe, Health Commissioner Harry Chen, Burlington Schools Superintendent Yaw Obeng, Vermont state legislators, as well as representatives from the office of Senator Leahy, and other important Farm to School stakeholders.

Vermont Agency of Agriculture Secretary Chuck Ross announced more than $50,000 in funding available to all Vermont schools for the purpose of developing or expanding Farm to School programming for Vermont students in 2016.

Vermont Business Magazine Last week, the US Department of Agriculture (USDA) announced that the Vermont Agency of Agriculture (VAAFM) will receive a $92,200 matching grant from the Federal-State Marketing Improvement Program (FSMIP) to enhance domestic export opportunities and market channels for Vermont agricultural products. Out of a total $1,005,906 in FSMIP funding awarded to 15 different projects in this 2015 application period, the state of Vermont received the third largest grant at $92,200.

by Mike Faher/The Commons For local residents and state officials, the central, painful reality of post–Vermont Yankee planning is that there is nowhere to take the plant’s spent nuclear fuel. That doesn’t mean, however, that there haven’t been conversations about the eventual removal of that waste from the Vernon property. As part of its attempts to develop a nationwide plan for transporting nuclear waste to a centralized storage facility, the U.S. Department of Energy recently has made inquiries with Vermont officials and has scheduled a visit to Vermont Yankee.