Current News

Berkshire Hills Bancorp, Inc (NYSE: BHLB) announced today the signing of a definitive agreement for the acquisition of privately held Firestone Financial Corp as an operating subsidiary of Berkshire Bank. Based in Needham, Massachusetts, Firestone is a longstanding commercial specialty finance company providing secured installment loan equipment financing for small and medium-sized businesses. Berkshire Hills is the parent company of Berkshire Bank, with offices in southwestern Vermont.

Vermont Business Magazine Weekly unemployment claims in Vermont shot up last week. There were 814 new, regular benefit claims for Unemployment Insurance in Vermont, an increase of 310 from the previous week's total and 113 more than they were a year ago. Generally, claims have been running below last year's totals.

Altogether 5,372 new and continuing claims were filed, a decrease of 171 from a week ago, and 629 fewer than a year ago. The Department processed 0 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), the same as the previous week.

US Senator Patrick Leahy (D-VT) on Thursday said that President Obama will nominate Burlington attorney Eric Miller to be Vermont’s next United States Attorney. Leahy recommended Miller in February to serve as Vermont’s 37th United States Attorney, managing the US Department of Justice’s US Attorney offices in Burlington and Rutland and overseeing the work of nearly 20 attorneys who represent the United States in criminal and civil investigations and litigation in Vermont.

(SEE RELEASE BELOW)

ICBA Securities Inc, the broker-dealer subsidiary of the Independent Community Bankers of America (ICBA), announced Thursday that it has received the endorsement of the Vermont Bankers Association Inc. (VBA). VBA is the 38th state banking association to endorse the services of ICBA Securities, which provides fixed-income investment products and services to community banks.

“We are delighted to include the Vermont Bankers Association into the ranks of state and regional partners that have endorsed ICBA Securities,” said Kathy Underwood, ICBA Securities board member and president of Ledyard National Bank in Norwich, Vt. “ICBA Securities offers a diverse portfolio of investment products and has a strong track record of providing the best possible service and products to the nation’s more than 6,000 community banks. We look forward to working with Vermont’s community banks and assisting them with their investment needs.”

A St Johnsbury businessman praised for his honesty and professionalism was honored as the Northeast Kingdom Chamber of Commerce’s 44th Citizen of the Year at the organization’s annual meeting on May 21. Wesley Ward, owner of Wes Ward Auto Repair and Westward Equipment Service, was recognized for his extensive volunteer efforts with local and regional civic organizations. Ward, a past president of the Northeast Kingdom Chamber, learned of the award in a surprise video announcement prepared by fellow chamber member and friend, Steve Nichols, from Nichols Communications. The four-minute video featured photos from his life and career with voiceovers from the chamber director and wife Paula Ward, outlining his many area accomplishments.

Dinse, Knapp & McAndrew announces that Jeff McMahan has been elected as its President and Managing Partner to succeed Brian Murphy. Regarding the transition, Brian said, “The firm is fortunate to have many outstanding leaders and the unanimous selection of Jeff as our new President is a superb choice. His leadership skills are excellent, his keen business sense is a valuable asset, and his vision for the firm's future is very exciting.”

Vermont Business Magazine and the Vermont Chamber of Commerce today announced Champlain Cable Corporation as the winner of the prestigious and highly anticipated Deane C Davis Outstanding Business of the Year Award. Presented by Governor Shumlin at the opening ceremonies of the Vermont Chamber of Commerce Business and Industry EXPO, this annual award honors a Vermont business that shows an outstanding history of sustained growth while displaying an acute awareness of what makes Vermont unique. The award, named for the former governor of Vermont, was created 25 years ago by Vermont Business Magazine and the Vermont Chamber of Commerce to recognize and honor the state’s best companies.

Earlier today Attorney General William Sorrell filed a settlement in Washington County Superior Court with Embassy Suites South San Francisco, located in San Francisco, California. The agreement settles allegations that the hotel failed to notify consumers of a security breach in the most expedient time possible and without unreasonable delay.In July 2013, Embassy Suites South San Francisco received notifications from customers of unauthorized charges on their credit cards. Notice of a breach was not sent to Vermont residents until February 7, 2014, approximately six months later.

The Vermont Attorney General’s Office is warning that thousands of Vermont consumers continue to report receipt of threatening recorded (robocall) phone calls from persons identifying themselves as IRS agents and threatening legal action if an alleged outstanding debt to the IRS is not immediately paid. The callers then direct the consumer to call a phone number and make immediate payment by credit card, wire transfer, or other direct means of payment. This is not the IRS calling – this is a scam.

Consumers should immediately hang up if they receive this call. These calls are coming from outside the United States. By using voice over internet services, the scammers are able to mask the number they are calling from and can make it appear that they are calling locally or from another state. Do not call the number back and do not engage with the caller.

by Don Rendall, Vermont Gas President and CEO Delivering a clean, affordable energy option to more Vermonters is the top priority for Vermont Gas. Our 50,000 customers in Franklin and Chittenden Counties save almost 50% compared to propane and 25% compared to heating oil. That’s $2,000 a year, on average, in savings for the families we serve. We’ve reduced our customers’ rates more than 15% since the beginning of 2012.

By displacing heating oil and propane, our customers are contributing to Vermont’s clean energy future, avoiding greenhouse gas and other air pollution equal to the emissions from almost 10% of Vermont’s cars and light trucks.

Governor Peter Shumlin announced today that Vermont has signed on to a first-of-its-kind agreement with international leaders from 11 other states and provinces, collectively representing more than $4.5 trillion in GDP and 100 million people, to limit the increase in global average temperature to below 2 degrees Celsius – the warming threshold at which scientists say there will likely be catastrophic climate disruptions.

Spearheaded by California Governor Jerry Brown, the dozen-state agreement called the “Under 2 MOU” provides a template for the world’s nations to follow as work continues toward an international agreement to reduce greenhouse gas emissions ahead of this year’s United Nations Climate Change Conference in Paris.

The Vermont Public Service Department today announced its process for updating the Comprehensive Energy Plan (CEP), which is required to be completed by the end of 2015. The Department will solicit public input through a series of meetings this summer, as well as through written comments, and produce a draft CEP by September. That draft plan will then be available for additional public review and input throughout the fall, with a final CEP to be completed by the end of the year.