Current News

FairPoint Communications, Inc (Nasdaq: FRP), a leading communications provider, today announced its financial results for the second quarter ended June 30, 2014. Shares rose slightly Wednesday to $14.55. "Once again, we delivered Adjusted EBITDA and Unlevered Free Cash Flow in line with our expectations despite continued pressures on legacy revenue," said Paul H Sunu, Chief Executive Officer. "We see positive signs in the business including continued growth in Ethernet revenue and broadband subscribers and we expect rate increases implemented in the second quarter and the return of seasonal customers to help support second half revenue. In addition, we believe a continued focus on expenses should help drive Adjusted EBITDA and a strong back half of the year."

Home prices in Vermont rose 4.4 percent, including distressed sales, in June 2014 compared to June 2013. Nationally, prices increased 7.5 percent. This change represents 28 months of consecutive year-over-year increases in home prices nationally.

by Representative Patti Komline (R-Dorset) and Representative Heidi Scheuermann (R-Stowe) Since its debut 2013, Vermont’s health insurance Exchange, Vermont Health Connect, has been a management disaster. From the rollout of the website to the growing difficulties today – over $71 million later – Vermonters are frustrated and angry. Recent news highlighted the negative impacts ongoing mismanagement and problems with functionality are having on the care thousands of Vermonters receive. Replacing the primary contractor, CGI, is a start. Replacing them with Optum without competitive bids and without agreed upon cost for services, however, is ill-advised when one considers Vermont’s experience with Optum in the last month.

In June, the Shumlin administration signed a 6-month, $5.69 million contract with Optum for additional help. Since then, a problem that started with 10,000 Vermonters with coverage problems grew to over 14,000.

Secretary of State Jim Condos announced Tuesday the launch of the Vermont Campaign Finance Information System (CFIS). The new system provides candidates, PACs, and political parties the ability to maintain their financial activities and file their campaign finance reports online. At the same time, it allows all Vermonters to have real time access to the information as reports are filed.

Secretary Condos expressed his excitement at what he calls “a big step forward for financial transparency of political campaigns in Vermont.”

Use of the system is voluntary for candidates, PACs, and parties for the remainder of the 2014 election cycle and will become mandatory on January 1, 2015. Until the next cycle when use of the system is mandatory, the only searchable data will be from entities that have chosen to use the system during the 2014 cycle.

by Anne Galloway vtdigger.org The Brattleboro Retreat is in hot water with the federal government again. The state’s psychiatric hospital has lost its “deemed status” with the Centers for Medicare and Medicaid. The retreat must make safety upgrades and improve treatment protocols in order to restore its standing with the federal agency. Federal funding for the retreat will end on October 6 unless the hospital can show it has met federal standards. CMS sent the funding termination letter to the hospital on July 8. The retreat has since filed a plan of correction with the state to address the deficiencies. That information was shared with state officials and lawmakers.

Retreat officials neglected to mention the funding termination letter to lawmakers at the Mental Health Oversight Committee on July 22.

Rep. Anne Donahue, R-Northfield, says the omission is significant.

National Life Group executives have signed an agreement to boost its recruitment of military veterans, and to make their work experience at the Montpelier-based company even more fulfilling. “We’re proud that we already have an active group of military veterans among our employees and we look forward to welcoming even more as our company continues to grow,” said Mehran Assadi, president and CEO of National Life Group. “Veterans are a natural fit with our company, which is committed to the corporate values to Do good. Be good. Make good.”

Under the terms of a charter signed by Assadi, other National Life Group executives and state and federal labor officials, the company committed “to create an organization of employee Veterans who will help to carry out and oversee the implementation of a robust and comprehensive program to widen recruitment, improve new hire integration and strengthen the military community at National Life Group.”

Crystal Hathaway-Therrien, age 31, of Bradford, Vermont, was convicted on August 5, 2014, in the Windsor Criminal Division of the Vermont Superior Court, of five misdemeanor counts of False Pretenses. The convictions stemmed from Ms. Hathaway-Therrien’s submission of false timesheets in order to obtain payment for services that were not provided to a child enrolled in the Children’s Personal Care program, a Vermont Medicaid program. Hathaway-Therrien signed and submitted the timesheets in her capacity as the employer-of-record and received the proceeds.

Northern Power Systems Corp. (TSX: NPS), based in Barre, Vermont, a next generation renewable energy technology company and maker of wind turbines, has announced financial results for its three and six month periods ended June 30, 2014. Revenues have tripled while the net loss has fallen. "Our second quarter financial results demonstrated continued strong year-over-year revenue growth. With our next generation distributed turbine ready for the market and our capital raise concluded, we are planning our targeted expansion strategy to enter new regions and market sectors," said Troy Patton, president and chief executive officer. "We also continue to be very pleased with the scope of our strategic partnership with WEG Industries. WEG's production and delivery of 2MW turbines leveraging our licensed technology platform continues on pace to fill its current Brazilian orders of greater than 150 MW.

Vermont Fish & Wildlife has reopened the cliffs closed to hiking and access earlier this spring to protect nesting peregrine falcons. “The young peregrines have fledged, and nesting data suggest the species had a good year due, in part, to cooperation from hikers and rock climbers during this critical nesting period,” said Fish and Wildlife’s migratory bird biologist John Buck. “Peregrine nesting success is also helped by the nearly 40 volunteers who monitor the nest sites from March to the end of July.”

Looking to boost activity on the northern side of the waterfront, while upgrading infrastructure for even more development, especially the re-development of the moribund Moran building, Mayor Miro Weinberger Tuesday was joined by Senator Patrick Leahy, Commissioner Noelle MacKay of the Vermont Department of Housing and Community Development, other State and City officials, waterfront stakeholders, and community members for the Waterfront Access North (WAN) project ground-breaking event. The $9.1 million WAN represents the first major new waterfront public infrastructure investment since the creation of Waterfront Park in the early 1990s.

The project includes the following key improvements:

· Realigning, widening, and rebuilding the currently decayed and disjointed section of the Burlington bike path immediately north of Waterfront Park to better accommodate path users and other activities on the northern waterfront;

After months of construction, Governor Peter Shumlin today gathered with local officials to celebrate the official reopening of the Morrisville-Stowe State Airport. The governor also announced an exciting public/private partnership to bring additional investment to the airport, including a new air charter company with service to and from cities such as New York, Boston, Toronto and Washington, DC.

New York Attorney General Eric T Schneiderman and Casella Waste Systems Inc of Rutland, Vermont, have settled a dispute concerning Casella’s contracting practices in New York State. The NY AG stated that combined with Casella's market dominance and pattern of acquisitions of smaller competitors, it unlawfully restrained competition in the North Country and Southern Tier. The settlement requires Casella to change its contracts to reduce the legal and financial obstacles faced by customers that wish to switch to competing providers. The AG said these changes are expected to rejuvenate competition by reducing customers’ switching costs and facilitating new market entry. The settlement, announced in July, also requires Casella to report certain future acquisitions of competitors to the Attorney General’s office, and to make a monetary payment of $100,000 to the State.