Current News

Members of Rising Tide Vermont, 350-Vermont and supporting Addison county residents held a press conference Friday to denounce the attempt by Vermont Gas to criminalize activists involved in nonviolent protest against the fracked gas pipeline. Demonstrators on May 27 hung a banner from the Vermont Gas Systems headquarters roof in South Burlington and chained a member to the front door to protest the natural gas pipeline planned to run through Addison and into Rutland counties. Vermont Gas claimed those who placed the banner were trespassing and also that during the action of chaining the door, a VGS employee was assaulted and injured by a demonstrator.

With the crucial personal income tax off nearly 11 percent, Vermont General Fund revenues totaled $70.31 million for May 2014, -$5.47 million or -7.22 percent below the monthly target. The personal income tax receipts were off nearly 15 percent in April. Secretary of Administration Jeb Spaulding released the May 2014 General Fund (GF) revenue results today. May is the eleventh month of fiscal year (FY) 2014. Year to date, General Fund receipts are now $1,202.86 million, -$5.38 million or -0.44 percent behind the cumulative target. Year-to-date revenue is $26.64 million (2.26 percent) ahead of the same period for the prior fiscal year (FY 2013).

In a report released Thursday, Human Resources Commissioner Kate Duffy announced that the investigation into alleged misconduct by Vocational Rehabilitation Counselor John Howe has been closed, as has the Department’s related review of retaliation against Howe. Howe had publicly disclosed the investigation into his practice of permitting non-authorized personnel to sign his name to dispense state funds through the Department of Disabilities, Aging and Independent Living (DAIL), which had referred the matter to the Department of Human Resources. Howe had claimed that the investigation constituted retaliation for Howe testifying at the Vermont Legislature and engaging in union activity. In response to this case, DAIL will clarify its policy on how funds are authorized.

Senate Veterans’ Affairs Committee Chairman Bernie Sanders (I-Vermont) and Senator John McCain (R-AZ) reached a bipartisan agreement Thursday to improve veterans’ access to health care and address serious problems facing the Department of Veterans Affairs. Embattled Veterans Administration Secretary Eric Shinseki resigned last week over several problems within the agency, including long wait times at VA hospitals. There is a VA hospital in White River Junction, but it was not cited as one with such problems.

“While this is not the bill that I would have written, we have taken a significant step forward with this agreement,” said Sanders.

RELATED STORY: Bernie Sanders issues statement over resignation of VA Secretary Shinseki

MyWebGrocer, a leading provider of digital marketing solutions to the grocery and CPG industries, today announced the launch of Aisle Beacon, new in-store technology that leverages proximity marketing to deliver personalized content to consumers while shopping in a grocery store.

Exclusively available on MWG’s mobile applications, this is the first beacon messaging system that is built directly within a grocery retailer’s branded app. Retailers can use Aisle Beacon to provide consumers with the most relevant offers from their circular, private label brands and CPG manufacturers. This gives retailers another opportunity to bring useful, customizable content directly to shoppers, while improving the in-store experience and increasing sales.

The US. Treasury Department Thursday awarded Housing Vermont $35 million in New Markets Tax Credits (NMTC). Housing Vermont was one of 87 organizations nationally to share in $3.5 billion in the current round of awards which will be the last awards unless Congress votes to extend the program. Awards ranged from 515 million to $60 million.

"Our NMTC program has already financed nine community development projects including new state office buildings in Barre and St. Albans, the expansion of the Commonwealth Dairy in Brattleboro and Weidmann Technology in St Johnsbury, as well as a new Rutland campus for Vermont Community College," said Housing Vermont President Nancy Owens. “[Thursday’s] award will allow us to respond to a strong pipeline of community projects."

Fitch Ratings affirms the 'AAsf' student loan notes issued by Vermont Student Assistance Corporation, series 2011-A1 (VSAC 2011-A1). The Rating Outlook remains Stable. A detailed list of rating actions follows at the end of this press release.

Fitch's Global Structured Finance Rating Criteria and Private Student Loan ABS Criteria were used to review the transaction.

KEY RATING DRIVERS

Adequate Collateral Quality: The trust is collateralized by approximately $11.79 million of fixed rated private student loans as of May 2014. The loans were originated by VSAC. Fitch projected remaining defaults to range between 15% - 17% as of the current principal balance based on data provided by VSAC. A recovery rate of 15% was applied.

Sufficient Credit Enhancement (CE): CE is provided by overcollateralization (the excess of trust's asset balance over bond balance) and excess spread. As of March 2014, the parity ratio is at 140.19%.

The Vermont Attorney General’s Office has filed suit against more than two dozen of the nation’s largest refiners of gasoline for causing widespread pollution of Vermont’s groundwater with the gasoline additive MTBE. “We believe these companies knew years ago that MTBE was a uniquely bad actor in groundwater, and they ignored the risks and sold it anyway,” said Attorney General William H Sorrell. “This lawsuit is about holding them accountable and ensuring that they — and not Vermonters — pay to clean up our groundwater.”

by John Herrick vtdigger.org The Shumlin administration will consider raising taxes for the restoration of Lake Champlain. At Vermont Environmental Consortium’s third annual water quality conference in Burlington on Wednesday, Department of Environmental Conservation Commissioner David Mears said the administration will have a funding proposal for the cleanup in November. Mears said the state hopes to secure federal funding, eliminate inefficiencies in state government, and raise revenue to meet its commitment to the federal Environmental Protection Agency. The state must reduce phosphorus loading into the lake by 36 percent and has proposed its own restoration plan, which is part of its legal obligation under the Clean Water Act.

While largely following population size, a diesel fuel group has ranked states by non-gasoline use and growth in vehicles. California, Texas and Florida lead the US with the most registrations of fuel-efficient clean diesel and hybrid passenger vehicles, according to a new analysis and data released today by the Diesel Technology Forum (http://www.dieselforum.org/index.cfm). The analysis covers several categories. For instance, North Dakota, Vermont and Illinois are the fastest growing diesel pickup truck states.

The analysis is based on data that includes the registration statistics of all passenger vehicles – cars, SUVS, pickup trucks and vans – that were compiled by R.L. Polk and Company in all 50 states and the District of Columbia through December 31, 2013.

The Lamoille Economic Development Corporation is expanding its contract with Elisa Clancy of 3W Promotions of Hyde Park to offer assistance with marketing planning and implementation free of charge to the business community at large in Lamoille County. This is an expansion of an initiative that the LEDC launched two years ago to offer marketing assistance to agricultural and value added food production businesses. This assistance includes, but is not limited to, researching and writing a marketing plan, preparation of advertising copy and limited graphic design services, branding advice, public relations planning and press release preparation and distribution and investigation of grant opportunities and assistance in grant application writing for funding for marketing and related purposes.

Purchasing auto and homeowner's insurance from the same company leads to an average savings of $270 per year, according to a new insuranceQuotes.com report. That's a 15% discount. The states with the highest average savings are Louisiana ($505), Oklahoma ($468), Texas ($435), Mississippi($422) and Missouri ($366). The lowest are Hawaii ($116), Florida ($147), North Carolina ($166), Vermont ($176) and Idaho ($190). However, Vermont has combined rates ($1,382) that are 22 percent below the national average ($1,775) and ninth lowest overall. Florida, despite seeing lower savings, had the highest overall combined rates ($3.024).