Current News

Vermont Business Magazine Nearly 400 Vermont employers came together Friday at the Sheraton Burlington to hear an inspiring message from global business leader and humanitarian Marilyn H Tam about the importance and value of workplace diversity. Tam addressed the rapidly changing faces of the nation and the world—including Vermont—as well as the shifting age of workers and the dramatic rise of women-owned companies. Tam was the keynote speaker at the second annual Vermont Business Roundtable Executive Leadership series breakfast. Her talk, “Diversity: How to Reap Vermont’s Rich Harvest of Culture, Creativity & Community,” connected such diverse themes as life purpose and work-life balance with how to accelerate change in the workplace to achieve greater diversity.

by Mike Smith The tragic death of Kyle Young — a young Vermont State Police trooper who died during a training exercise at the National Guard firing range in Jericho — was a shock to many Vermonters. What was perhaps even more shocking is the cause of his death: heat stroke. According to WebMD: “The medical definition of heat stoke is a core body temperature greater than 105 degrees Fahrenheit, with complications involving the central nervous system that occur after exposure to high temperatures.”

On the day of Young’s death temperatures were in the 80s.

So the question that many are asking is why wasn’t such a preventable death prevented?

Vermont Business Magazine The ribbon was cut at the Rutland Region Chamber of Commerce Ribbon Cutting and Grand Opening Celebration for Townline Equipment located at 1426 US-7 in Pittsford, VT 05763. Townline Equipment is a family owned and operated business originally owned by Bob Marrazzo. Drew and Matt Marrazzo worked summers and part-time at Townline when they were young, Drew in the shop and parts departments and Matt in the parts department and business office for their Father Bob Marrazzo. Drew joined the sales team full-time in 2004. And after working in marketing and accounting for another local company, Matt joined Townline full-time in 2008. In 2011, Drew and Matt became the new owners of Townline Equipment.

by Governor Peter Shumlin A year and a half ago, I stood up before Vermonters and devoted my State of the State address to speaking about the opiate and heroin crisis affecting our state. Despite our best efforts since, this is not a battle we are winning. Now the Food and Drug Administration is recklessly making the problem worse with its decision to approve OxyContin for use by children as young as 11 years old.

I was horrified when I learned of the F.D.A.’s decision last month. In the past 18 months, Vermont has invested millions of dollars in battling the threat that opiate abuse poses to families and our communities. We united behind the view that addiction is primarily a health care issue and that users need treatment, not prison cells. But Vermont continues to face the enormous personal and economic toll of drug abuse, just as the rest of the country does.

Lake Champlain Committee (LCC) Fall is in the air, but water temperatures remain high. The reading at the King Street Ferry Dock Friday morning was over 70 °F. Blue-green algae blooms can still occur so please keep a watchful eye. While conditions seem to be improving in St Albans Bay, algae blooms continue to persist in some areas of Missisquoi Bay and Lake Carmi. Lake Memphremagog also had some visible cyanobacteria this week. Most other areas reported good conditions but we have fewer monitors reporting at this time of year.

Vermont Business Magazine Vermont Ski and Ride, the only independent publication that serves New England’s winter sports community, has relaunched for 2015 as a free glossy, quarterly publication printed on heavy stock, high-quality paper, along with a new website and social media presence. In 2015, Vermont had 4.6 million skier and rider visits, making it the second most popular state for winter sports after Colorado. “Our goal is to serve one of the country’s most active and affluent markets: the people who visit or live in Vermont’s mountain towns and ski resorts,” says Angelo Lynn, publisher.

Vermont Business Magazine The National Ski Areas Association (NSAA) today released its 15th Sustainable Slopes Annual Report detailing the ski industry’s progress in implementing the principles of its Environmental Charter during the 2014/15 season. The report highlights results of the industry’s Climate Challenge Program, a voluntary program for resorts to inventory, target, and reduce their greenhouse gas emissions (GHGs).

“These ski areas are leading the ski industry by addressing climate change head on and making changes in their operations that will reduce their impacts,” said NSAA’s president, Michael Berry.

The Climate Challenge program provides technical support and recognition to ski areas that are developing carbon inventories, setting goals for carbon reduction, and measuring success in reducing their overall carbon footprint. Participating resorts are:

Castleton Polling Institute The Castleton University Poll that concluded September 14 assessed the Vermont general public’s views on the performance of President Barack Obama and Governor Peter Shumlin as well as an assessment of the current state of the state. According to the recent Castleton Poll, 47 percent of Vermonters approve of the job President Barack Obama is doing as president, and 39 percent disapprove—giving the President a net approval rating of 8 percentage points. Fourteen percent of the Vermont respondents have no opinion about the president’s performance. In the latest Gallup Poll, 46 percent of Americans approve of the President’s job performance, and 49 percent disapprove—a net approval score of -3 percentage points. Only 5 percent of respondents in the Gallup Poll said that they had no opinion on the question.

Vermont Business Magazine VSECU, a not for profit banking alternative for all Vermonters, has awarded a total of $15,000 to help three Vermonters pay down student loan debt. The award is granted annually to applicants who submit an innovative idea that could positively impact Vermonters and/or Vermont communities. Winning ideas must include supporting detail that illustrates how the idea can be implemented. 2015 marked the fourth year of this signature VSECU member award program. The program, called Student LIFT (Loan Independence for Today), awards three VSECU members an amount of $5,000 toward their student loan debt. VSECU makes monthly loan payments, on behalf of each recipient, up to the award amount.

Rural entrepreneurs will continue to have access to vital capital through the Vermont Economic Development Authority (VEDA) thanks to a $1 million loan from the U.S. Department of Agriculture (USDA). The loan from USDA’s Intermediary Relending Program will recapitalize VEDA’s Vermont Small Business Development Corporation to provide capital to growing Vermont businesses.

“Vermont’s rural businesses, from farms to manufacturers, depend on a mix of private and public capital like that provided by USDA to help them grow and create new jobs,” said Ted Brady, USDA Rural Development Vermont State Director. “Strong partners such as VEDA help us make a bridge between federal funding and investing in local entrepreneurs.”

Vermont Business Magazine Weekly unemployment claims in Vermont fell to their lowest level in memory last week. There were 309 new, regular benefit claims for Unemployment Insurance in Vermont, a decrease of 37 from the previous week's total and 89 fewer than they were a year ago. Generally, claims have been running below last year's totals. Total claims were down in most regions of the state. By industry, claims fell in manufacturing but otherwise held steady with very low total. As has been the trend, Services led all categories with 48 percent of all claims.

Vermont Business Magazine Vermont continues to see brisk home sales, including the region's highest increase, but prices have not seen the same supply-and-demand effect, with the median price down nearly 7 percent. Median home price slipped below $200,000 to second lowest in the region behind only Maine. Overall in New England, the summer residential market in New England remained strong throughout August, with all six states seeing growth in sales year-over-year. Throughout the region, pending sales were up over 16 percent, while average days on market decreased by 10 percent. Month-over-month, all six states experienced a decrease in units sold and slight decrease in median price. However, sales were up 8.9 percent in the region and there was a modest increase in median price over August 2014.