Current News

At the Community National Bank in Montpelier Monday, Representative Peter Welch unveiled bipartisan legislation to provide targeted regulatory relief to small community banks across the country. Joining Welch at the news conference were community bank leaders from around the state, including Mark Young (First Bank of Orwell), Reagan Howard (Community National Bank), Ken Perrine (National Bank of Middlebury), Steve Kendall (Union Bank) and Chris D’Elia (Vermont Bankers Association). Also participating was Tom Candon with the Vermont Department of Financial Regulation.

On Friday, Absentee and Early Voting began for the General Election. From now until 5 pm or the close of the town clerk’s office on the day before the election, which, for the General Election is Monday, November 3, any registered voter may request a ballot from their town clerk, whether in person, by phone or by mail.

Secretary of State Jim Condos urges any Vermonters who think they may be away on November 4rd or have a schedule conflict to take advantage of Vermont’s early voting law: “Vermont law recognizes how busy its citizens are and that, while some will be able to take time off from work and personal obligations to vote on Election Day, others will not. However, voting is a right that belongs to all of Vermont’s citizens, which is why, if you cannot make it to the polls, I strongly encourage you to exercise your constitutional right and vote early!”

Today, Governor Peter Shumlin’s Climate Cabinet released the Vermont Zero Emission Vehicle (ZEV) Action Plan. The Vermont Zero Emission Vehicle (ZEV) Action Plan sets out tasks and timelines Agencies and Departments including Natural Resources, Transportation, Health, Public Service, and Buildings and General Services will take to promote electric vehicle deployment in Vermont. The Vermont Zero Emission Vehicle (ZEV) Action Plan is the product of a memorandum of understanding (MOU) signed with seven other governors to put 3.3 million ZEVs on the road by 2025. ZEVs include pure battery electric vehicles, plug-in hybrid electric vehicles, and hydrogen fuel cell electric vehicles. The state estimates that there will be 700 such vehicles registered in Vermont by the end of this year.

Ski Vermont presented a contribution check of a record breaking $10,800 to the Keep Local Farms Fund at Rosina Wallace Farm in Waterbury, VT on Friday, September 19, 2014.

Norwich University has raised $55 million towards its newly launched five-year, $100 million comprehensive fundraising campaign known as “Forging the Future.” University President Richard W Schneider made the announcement as he kicked-off the campaign Friday night to 1,200 alumni, donors, trustees, faculty and staff at a gala event in Shapiro Field House.

The five-year campaign is timed to culminate during the university’s bicentennial in 2019 and is designed to enhance the university’s strong position as it steps into its third century of service to the nation.

Over the last few months, Congressman Andy Barr (R-KY) and Vermont Governor Peter Shumlin have met with Vermont Castings Group senior management team members at the manufacturer’s facilities in Kentucky and Vermont. The topic, among others, was increasing regulatory restrictions on the hearth industry and their effects on the welfare of the manufacturer, who has production facilities in Kentucky and Vermont employing over 600 people.

Citizens Financial Group has introduced a new way for student loan borrowers to manage the long-term cost of college – the ability to refinance federal student loans via its Education Refinance Loan, which Citizens launched earlier this year with an initial focus on private student loans.To date, Citizens’ Education Refinance Loan has helped private student loan borrowers lower their monthly payments by an average of $127 and lower their average APR by 1.5 percent, saving thousands of dollars in interest payments over the lives of their loans. Others have utilized refinancing to set consistent monthly payments for the duration of their private student loan by switching to a fixed rate.

Merchants Bancshares, Inc (NASDAQ: MBVT), the parent company of Merchants Bank, announced Friday that Janet P Spitler, Merchants Bancshares, Inc Chief Financial Officer and Treasurer, is resigning effective December 31, 2014, to pursue other professional interests. "Janet has been a significant contributor to our company over the past 24 years. We are extremely grateful for her dedicated service and wish her the best in her future endeavors," commented Michael R Tuttle, Merchants Bancshares, Inc President and Chief Executive Officer.

A group of Vermont business, energy, and state leaders, including Burlington Mayor Miro Weinberger, Representative Tony Klein and Sugarbush owner Win Smith, joined Green Mountain Power today in criticizing Vermont Law School's Environmental Law Clinic for filing a Federal Trade Commission complaint that targets Vermont's renewable energy laws. The filing against GMP's sale of Renewable Energy Certificates (RECs) would lead to higher electric rates and discourage renewables in Vermont. State laws aimed at encouraging renewable generation, like the SPEED law, have helped Vermont create the highest number of solar jobs per capita in the country. Utilities like GMP, as well as solar and wind developers, utilize RECs to help expand renewable generation and keep rates low for their customers. The VLS group filed its petition Monday.

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Vermont Business Magazine The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for August 2014 was 4.1 percent. The number of employed fell 1,300 while the number of unemployed rose by 2,200. The labor force also fell by 800. These are all negative indicators. The rate itself represents an increase of four-tenths of a percent from the revised July rate (3.7 percent). The equivalent national average was 6.1 percent, which decreased by one-tenth of a percent from the previous month’s estimate. This is the third monthly increase to the statewide unemployment rate in Vermont in the past year. Vermont fell to the fifth best rate in the nation, down from fourth in July.

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There have been two USS Vermonts in US Navy history, the last of which was a battleship. But they do not make those ships anymore, so the Navy found another way to honor the state's important naval history. Secretary of the Navy Ray Mabus hosted a ship-naming ceremony Thursday in front of the Lake Champlain Navy Memorial in Burlington to announce that SSN 792, a Virginia-class attack submarine, will bear the name USS Vermont. Mabus named the submarine to honor the longstanding partnership its namesake state has had with the Navy.

Vermont Business Magazine New unemployment claims in Vermont edged down last week. Claims are typically low this time of year. They tend to rise in the transition from summer to back-to-school in early September. However, they fell under 400 as the school season begins. Levels this year have been running consistently lower than those of last year. For the week of September 13, 2014, there were 358 new, regular benefit claims for Unemployment Insurance in Vermont. This is a decrease of 55 from the previous week's total, and 85 fewer than they were a year ago.