Current News

by Morgan True vtdigger.org Fletcher Allen Health Care has revised its charity care policy to comply with new IRS rules with the result that some uninsured or underinsured patients will have to pay more for care they receive at the state’s largest hospital. The policy change comes in response to new IRS requirements that are part of the Affordable Care Act (ACA) for hospitals to keep their nonprofit status, according to Shannon Lonergan, Fletcher Allen’s director of registration and customer service.

by Rob Roper “Let’s talk about big government run [healthcare] plans,” Vermont Senator Bernie Sanders needled fellow Veterans’ Affairs Committee member John McCain. “I don’t want to shock anybody here and have people dashing out of the room, but the VA (Veterans’ Administration) is a socialized healthcare system, right Mr McCain? Socialized medicine.”

Yes, it is.

As Senator Sanders pointed out, in the socialized system of the VA, the staff is “not out there busy raising money; charging them [customers] money.” We hear similar arguments in favor of implementing a government-run, single payer healthcare system here in Vermont. Get the profit motive out of our healthcare system, get private sector people who are motivated by greed out of the healthcare system, and everyone will get all the care they need when they need it.

Milton, Vermont-based NG Advantage has signed up its 21st customer to truck CNG to a HP Hood Plant in Lafargeville, NY. HP Hood’s plant in Lafargeville is converting from fuel oil to compressed natural gas as a boiler fuel. CNG is less expensive than fuel oil so the plant will be more competitive. After the conversion, the plant will emit 26 percent less CO2, much less SO2 and NOx, and almost no particulates.

Fitch Ratings affirms the ratings of the student loan revenue bonds issued by Vermont Student Assistance Corporation (VSAC) 2012A Indenture, series 2012A and 2013A at 'Asf' and maintains the Stable Rating Outlook. Fitch Ratings also affirms the ratings of the student loan revenue bonds issued by VSAC series 2010A-1 at 'A+sf' and maintains the Stable Rating Outlook.

KEY RATING DRIVERS 2012A and 2013A

Adequate Collateral Quality: The trust is collateralized by approximately $36.7 million of private student loans as of March 2014. The loans were originated under VSAC's Fixed Rate Private Loan Program. Fitch projected remaining defaults to range between 13%-14% as of the current principal balance based on the trust performing in line with initial default projections. A recovery rate of 15% was applied which was determined to be appropriate based on data provided by the issuer.

by Morgan True vtdigger.org The state has spent $72 million as of Friday building Vermont Health Connect, the federally mandated online insurance marketplace, according to state officials. Vermont is one of 12 states plus the District of Columbia that is still working to build its own exchange instead of using the federal healthcare.gov. Of the 16 states and DC that applied to build their own exchanges, Nevada was the most recent to scrap its effort in May. The feds earmarked $4.69 billion in grants for states to build their own exchanges. Vermont has $171 million earmarked for the creation of its exchange. The state has roughly $100 million left to get the job done.

Navali.com, the Vermont-based online retailer of men’s nautical canvas and leather bags, has expanded its line of vintage style bags and accessories. Navali is now offering its most popular bag, the Leather Mainstay messenger bag, in Black leather. In addition, Navali will be introducing a line of olive waxed canvas for its more popular bags, including the Stowaway Weekender Duffel Bag, the Gunner Laptop Briefcase, Mainstay Messenger Bag, in addition to the newly released Toiletry Dopp Kit by the start of this summer. These expansions are part of a significant expansion in the Vermont-based company.

U.S. Sen. Bernie Sanders (I-Vt.) joined the celebration this afternoon for the reopening of Barnes Camp as a multi-purpose visitors center for the Smugglers’ Notch region.

Built along the mountain pass in 1927, the camp is perched at the southern gateway to the Smugglers’ Notch Scenic Highway. “We are here to celebrate saving a small, but important piece of Vermont history,” Sanders said.

Sanders secured $781,000 in federal funds to help complete this $1.2 million project, which also includes a trail head for the Long Trail and educational exhibits for Smugglers’ Notch. Restoration of the historic camp began in the fall of 2013.

The Vermont Council on World Affairs is pleased to announce the sixth annual Vermont international dinner honoring Bill Stenger and the Jay Peak Development Team for their work in "Bringing the world to Vermont and Vermont to the world."

Bill Stenger, Partner at Jay Peak and Burke Mountain Hotel and Conference Center and the entire development team at Jay Peak have been chosen as this year's honorees for their work helping to attract foreign visitors and foreign investment to our state. Bill and his team have traveled the globe promoting Vermont as a premier four-season resort destination and have contributed to the economic vitality and global awareness of Vermont.

Image Source: Vermont Council on World Affairs

by Hilary Niles vtdigger.org If IBM were to sell its computer chip-making unit to California-based Globalfoundries — patents and all, as the company is widely rumored to be considering — would the new owner of Vermont’s largest manufacturing plant even want to keep it? Probably not, according to Len Jelinek, a semiconductor manufacturing industry analyst for the global information firm IHS. National press reports indicate Globalfoundries is primarily interested in IBM’s intellectual property — not the physical plant in Essex Junction — and Jelinek holds the same view. The firms already collaborate and share some patents.

Vermont Business Magazine Don and Shirley Nelson of Lowell today released a copy of the Settlement Stipulation entered into between the Nelsons and Green Mountain Power Corporation in April. The agreement resolves the GMP-Nelson litigation, which includes two payments, one of $50,000 and one of $1.25 million, to buy the Nelsons' land in Lowell. The Nelsons are opponents of the GMP wind farm on Lowell Mountain and said in a statement that they are planning to move from their multi-generation hillside farm in Lowell to a location removed from the wind turbine project.

by Bruce Lisman Vermont faces formidable challenges. Our economy has struggled. The high and rapidly rising cost to live, work and raise a family is squeezing the middle-class. Many young people are leaving the state. Expensive, short-term solutions to budget gaps have severely limited our government’s capacity to invest in critical areas.

Conventional politics and partisanship are not the answer. We need to find a different way to solve problems and overcome challenges that Vermonters face. If we work together and collectively tap into Vermont’s grit, its true character, we can change course and thrive.

As a founding officer of Campaign for Vermont I have had the opportunity to travel across our State for the past four years speaking with all sorts of Vermonters from different geographical areas and backgrounds. I heard great stories of success, but I also listened to a narrative of deep concern.

The Vermont Department of Financial Regulation (DFR) announced important modifications to current securities regulations that would support Vermont entrepreneurship while protecting the interests of investors. The revised regulation, dubbed the Vermont Small Business Offering Exemption (VSBOE), allows Vermont businesses and start-up companies to raise up to $2 million in capital by selling shares in their company to in-state investors. The regulation allows for a simplified process to reduce the regulatory burdens and costs usually associated with securities registration.