Current News

Vermont Business Magazine Middlebury College and 22 to other colleges will be allowed to continue to use a common financial aid system. The US House of Representatives Monday night passed bipartisan legislation introduced by Judiciary Committee Chairman Chuck Grassley (R-Iowa), Ranking Member Patrick Leahy (D-Vermont) and Senator Mike Lee (R-Utah) to extend an expiring antitrust exemption that allows certain colleges and universities to continue to collaborate on issues of need-based financial aid. The legislation unanimously passed in the Senate on July 14 and cleared the House of Representatives by a vote of 378-0. This legislation will now be sent to President Obama for his signature.

by Seth Blanchard Selecting investments based on both financial considerations and personal values is nothing new in the investment universe. But what was once considered a “fringe” strategy is becoming an increasingly mainstream approach. Today, there is an increased awareness that choosing opportunities now referred to as Sustainable and Responsible Investing (SRI) can create good investment value.

The concept has matured in recent decades. At one time, much of the focus of SRI was to screen out specific types of companies, such as corporations involved in the tobacco business or defense contracting. The primary emphasis for socially responsible investors was on the values of a specific company, with its financial prospects playing a secondary, though still important role.

Vermont Business Magazine Vermont Electric Cooperative is encouraging its members to conserve energy on Wednesday, July 29 and Thursday, July 30 between the hours of 1 pm and 6 pm when demand for electricity is expected to spike as a result of high temperatures throughout New England.

Here is what you can do to help beat the peak:

• Turn off all unnecessary lights.

• Delay use of major appliances such as dishwashers, washing machines, and clothes dryers.

• Raise your thermostat or air conditioner by 3 degrees.

Vermont Business Magazine Senator Patrick Leahy (D-Vermont) announced today that the State of Vermont will receive $6.7 million in federal grants to develop prevention and preparedness programs to respond to and recover from acts of terrorism and other catastrophic events. The grants were awarded under a formula championed by Leahy to protect smaller states like Vermont and were made public by the US Department of Homeland Security Tuesday.

Leahy said, “Vermonters understand that it is crucial to be prepared. We saw how devastating Tropical Storm Irene was for our rural communities, and we remember how the Vermont Air National Guard were among the first to respond in the tragic aftermath of 9/11. These grants will ensure that our first responders across the state and in our communities have the resources they need to train for the unexpected and respond when the moment comes.”

Vermont will receive grant awards from two DHS programs:

Vermont Business Magazine New mothers from throughout Vermont and northern New York will enjoy modern, private rooms with ample space for their partners and visiting loved ones in the “Glen and Rosemarie Wright Mother Baby Unit” unveiled Tuesday at The University of Vermont Medical Center. The Wright's were the lead donors among the 800 individuals and organizations who helped support the $15.8 million project. The current “Mother Baby Unit” is located in facilities that are 50-70 years old and contains small rooms, most of which have two beds. Twenty-two single-bed rooms in the new unit will dramatically reduce double occupancy and provide 44 percent more space per room for patients and families. An additional 3 rooms will be able to accommodate two beds.

Other features that will enhance the patient experience include:

by Anne Galloway vtdigger.org A revised revenue forecast for fiscal year 2016 puts the state back in the black. State economists say the general fund tax receipts will grow by 3 percent in the coming year, or by $40 million. At the beginning of 2015, revenues were down by $18 million.The revised forecast, presented Monday by Jeffrey Carr, the economist for the Shumlin administration, and Tom Kavet, the economist for the Vermont Legislature, shows modest growth in the state’s economy.

Vermont Business Magazine A Vermont Department of Health analysis shows that Vermonters are at greater risk for serious illnesses, even death, when the statewide average temperature reaches or exceeds 87°F. Adults age 75 and older and 15 to 34 experience the highest rates of heat-related illnesses. Adults 65 and older are at higher risk for death on such hot days.

Vermont Business Magazine A new study released just days after the US House passed a bill that would prevent states from requiring labels on genetically modified foods reveals that GMO labeling would not act as warning labels and scare consumers away from buying products with GMO ingredients. The study, presented at the annual conference of the Agricultural and Applied Economics Association, held in San Francisco on July 27, relies on five years of data (2003, 2004, 2008, 2014 and 2015) and includes 2,012 responses to a representative, statewide survey of Vermont residents. It focuses on the relationship between two primary questions: whether Vermonters are opposed to GMO’s in commercially available food products; and if respondents thought products containing GMO’s should be labeled.

Vermont Business Magazine Brattleboro Memorial Hospital is among the first hospitals in Vermont to acquire the Olympus EVIS EXERA III video endoscopy system. This system uses a video processor, light source, endoscope, and monitor to enable physicians to look inside the gastrointestinal (GI) system to diagnose, detect, and treat GI diseases such as colorectal cancer. The advanced imaging in the EVIS EXERA III system will help BMH physicians to detect GI disease at an earlier stage when treatments are most successful.

“By acquiring this new system we are able to further our commitment to providing exceptional care to our patients. With this advanced technology we increase our capacity to provide more accurate diagnoses, shorter procedure times, and an overall improved procedural experience,” said Steven R. Gordon, President and CEO of Brattleboro Memorial Hospital.

The University of Vermont Medical Center Joe Golding, CEO of Advancement Resources, was giving a presentation to faculty and health care providers from the UVM Medical Center, the UVM College of Medicine and the UVM College of Nursing and Health Sciences when Yael Friedman noticed something unusual. Friedman, a major gift officer for Academic Health Sciences at UVM, noticed that every time Golding sat down, he put his foot up the table in front of him. He also looked tired. Little did she know that Golding's life was about to change radically – with her help.

Left to Right: Kara Landry, Cindy Golding, Joe Golding, Mary Cushman, MD. Courtesy photo.

Vermont Business Magazine BAYADA Hospice, with three offices in Chittenden County, announced that it has been selected by the Center for Medicare & Medicaid Innovation (The CMS Innovation Center) to participate in its Medicare Care Choices Model (MCCM) demonstration project. Under this program, beginning in January 2016, BAYADA will be able to expand its existing community-based palliative care services to more patients in Vermont and New Hampshire who are seriously ill.

“The CMS Innovation Center provides a framework for supporting seriously ill, hospice eligible patients who might otherwise go without access to community-based palliative and hospice care.” said Dr. John Saroyan, BAYADA Hospice Medical Director. “The Medicare Care Choices Model will allow us to engage patients who qualify for hospice but who wish to continue pursuing the full spectrum of medical and hospital-based services.”

Vermont Business Magazine Merchants Bancshares, Inc (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of $3.12 million and $6.45 million, or diluted earnings per share of $0.49 and $1.02 for the three and six months ended June 30, 2015, respectively. This compares to net income of $3.41 million and $6.82 million, or diluted earnings per share of $0.54 and $1.07 for the three and six months ended June 30, 2014, respectively. The return on average assets was 0.72% for the three months and 0.75% for the six months ended June 30, 2015, compared to 0.82% for the same periods in 2014. The return on average equity was 9.73% and 10.15% for the three and six months ended June 30, 2015, respectively, compared to 11.15% and 11.23% for the same periods in 2014. Merchants Bancshares' Board of Directors approved a dividend of $0.28 per share, payable August 21, 2015, to shareholders of record as of August 7, 2015.