Current News

Vermont Business Magazine Quebec Premier Philippe Couillard, and Minister of Energy and Natural Resources and Minister responsible for the Northern Plan, Pierre Arcand, announced in June the appointment of Éric Martel as a member of the Board of Directors and President and CEO of Hydro-Québec, the provincial utility company and largest single electric supplier to Vermont. The former Bombardier executive began work on July 6.

Vermont Business Magazine Addressing hundreds of low-wage workers in Washington who have gone on strike for a living wage, US Senator Bernie Sanders (I-Vermont) said legislation he introduced Wednesday would raise the federal minimum wage to $15 an hour. Sanders said he was proud to stand with Good Jobs Nation and the Fight for 15 organizations, groups which have put a spotlight on the need to raise the minimum wage and helped make the push for better pay a cause that most Americans support. The Vermont state minimum wage rate increased to $9.15 per hour - from $8.73 per hour - on January 1, 2015. Vermont has the third highest state rate. Washington is first at $9.47.

Vermont Business Magazine Illegal telemarketing calls continue to be a major source of consumer fraud scams and are also a major source of anxiety and annoyance to consumers, particularly Vermont seniors. In the last year, the Attorney General’s Consumer Assistance Program (CAP) received over 3,200 reports of robocalls (pre-recorded calls) and other illegal telemarketing calls – and that is a small percentage of the calls actually received by Vermont consumers.

Today, Vermont Attorney General Bill Sorrell joined other state attorneys general urging the five major phone companies to offer call-blocking technology to their customers. This request follows a July 2015 Federal Communications Commission (FCC) rule clarification that verifies that federal law does not prohibit offering call-blocking services.

Vermont Business Magazine A coalition of State and City Treasurers and Comptrollers, including Vermont Treasurer Beth Pearce, sent a letter yesterday to Securities and Exchange Commission (SEC) Chairwoman Mary Jo White asking the Commission to adopt new rules requiring greater transparency from private equity managers when disclosing fees and expenses to limited partners.

The bipartisan group, which represents 13 public pension funds overseeing approximately $1 trillion in assets, asked the SEC to require the clear and consistent disclosure of fees and expenses which are often hidden in complicated, and even opaque, reporting systems. The letter also requested that the SEC require private equity firms to disclose information relating to fees and expenses quarterly, rather than on an annual basis, and called for an industry-wide standard for reporting.

Vermont Business Magazine Vermont-based publisher Chelsea Green in White River Junction will bring out the first major book chronicling the issues being raised by US Senator Bernie Sanders in his campaign for president of the United States. The Essential Bernie Sanders and His Vision for America is what the publishier says is the only book that outlines, in Sanders’ own words and actions, his presidential agenda for America. The book draws heavily from Sanders himself, including excerpts from the Congressional record, public speeches, and media interviews.

Vermont Business Magazine Hartland Democrat Matt Dunne is not declaring he's running for Vermont governor, but he's done everything short of saying so. This morning he sent out a detailed letter to potential supporters asking them for their feedback as he continues the process toward making a decision. As of the July 15, 2015, election reporting cycle, he filed a contribution report with the Vermont Secretary of State that lists $115,000 in donations and only $1,600 in expenditures. With Governor Shumlin already announcing he is not seeking re-election, the field is relatively wide open without a clear favorite, now that Congressman Peter Welch has decided to stay put in Washington.

Vermont Business Magazine Real estate sales in Vermont have continued a trend dating back to late winter with vigorous sales in June with only a modest increase in average prices. Sales have rebounded since the great recession while prices have lagged in catching up, despite a greatly reduced number of foreclosures. Sales are also up following another harsh winter, which saw depressed activity. According to The RE/MAX INTEGRA, New England June Monthly Housing Report, Vermont home transactions were up 20.8 percent year-over-year – the highest in New England, while median price increased 4.1 percent year-over-year. Pending sales were up 13.3 percent year-over-year.

Vermont Business Magazine The Agency of Commerce and Community Development (ACCD) and the Windham County Advisory Council announced today that the new and improved Windham County Economic Development Program (WCEDP), based in Brattlebor is up and running. Following the announcement of the first round of grants last December, Governor Shumlin called for ACCD to work with regional and local partners to redesign the program to ensure more regional input and participation and a more efficient program that ensures job creation and economic transformation in the region.

ACCD has worked closely for several months with regional partners including the Brattleboro Development Credit Corporation (BDCC), SeVEDS, Windham Regional Commission (WRC), several municipal representatives, and the Vermont SBDC and VEDA to redesign the program.

Vermont Business Magazine University of Vermont Vice President for Research Richard Galbraith, MD, PhD, has announced that four UVM research teams have each been awarded seed grants – ranging from $25,000 to $50,000 – to help move their innovative work one step closer to the marketplace. The researchers were among six finalist teams who pitched their ideas to a panel of experts at the first UVM-wide SPARK-VT session on June 26, 2015.

Vermont Business Magazine The latest 2015 KIDS COUNT Data Book state rankings place Vermont 5th in the nation in an index of child well-being. The rankings, released every year by the Annie E Casey Foundation, focus on key trends in child well-being in four domains: economic well-being, education, health, and family and community. Vermont ranked 2^nd in 2014, as it did in 2013, and ranked 3^rd in 2012. Vermont fell in the Health category from 6th last year to 22nd this year (which likely is related to other states getting better), but rose somewhat in the Economic Well Being Rank from 8th to 4th (where it appears the average across the nation did worse).

Vermont’s drop in overall rank reflects small changes in a number of indicators, said Sarah Teel, research director at the independent child advocacy non-profit Voices for Vermont’s Children.

Vermont Business Magazine While Vermont's unemployment rate stayed at the same level it's been for three months, all three of the key elements continued to improve slightly, as the Labor Force increased, Employment was up and Unemployment was down. The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for June was 3.6 percent. This represents no change from the revised May rate (3.6 percent). The national average in June was 5.3 percent, which experienced a decrease of two-tenths of a percentage point from the previous month’s estimate. Vermont’s unemployment rate is fourth lowest in the country and New Hampshire (3.8 percent) is sixth (see states list below). June represents the ninth consecutive month without an increase to the unemployment rate.

Vermont Business Magazine An underwater power line from Canada could mean upwards of $720 million for Vermont electric ratepayers and to help clean up Lake Champlain, among other environmental and economic goals, if it comes to fruition. The $1.2 billion project has a 2019 target for completion. Commissioner Christopher Recchia and the Vermont Department of Public Service announced today it has reached agreement with TDI-New England in its application for a Certificate of Public Good for the 1,000 MW transmission line to be constructed under Lake Champlain and underground from Benson to Ludlow. The powerline will run from the Quebec-Vermont line nearly 100 miles under Lake Champlain before moving across the state to Ludlow.