Current News

Vermont Business Magazine Mayor Miro Weinberger and the Community and Economic Development Office (CEDO) today announced Burlington’s celebration of National Community Development Week and encouraged local citizens, community agencies, local officials, and the public to join the celebration. This special week, which runs from April 21-26, 2014 provides an opportunity to spotlight the numerous outstanding accomplishments over the past 40 years of the Community Development Block Grant (CDBG) program, which has benefited thousands of Burlington residents by helping companies grow jobs, expanding access to health and social services, and providing affordable housing.

Merchants Bancshares, Inc (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of $3.40 million, or diluted earnings per share of $0.54 for the three months ended March 31, 2014, compared to net income of $3.61 million, or diluted earnings per share of $0.57 for the three months ended March 31, 2013. The return on average assets was 0.81% for the three months ended March 31, 2014, compared to 0.86 percent for the same period in 2013. The return on average equity was 11.31 percent for the three months ended March 31, 2014, compared to 12.31 percent for the same period in 2013. We previously announced the declaration of a dividend of $0.28 per share, payable May 15, 2014, to shareholders of record as of May 1, 2014.

Vermont Business Magazine Vermont Public Radio has been honored with four regional Edward R Murrow Awards, including recognitions for Continuing Coverage, Audio Documentary, Hard News, and Website, from the Radio Television Digital News Association (RTDNA).

“As a public broadcaster, we are accountable to the community we serve,” said VPR News Director John Dillon. “We are honored to receive these awards because they go to the heart of VPR’s mission to provide an essential and trusted independent voice for news and information in our region.”

StepStone Hospitality today announced the acquisition of the Hampton Inn Burlington, Vermont, as part of a joint-venture partnership with Garrison Investment Group. Rhode Island-based StepStone is a hospitality management company specializing in hotel and restaurant operations.

“The Burlington market is multifaceted and offers excellent opportunities,” said Thomas Russo, chief executive officer, StepStone Hospitality. "Our strategy is to grow our portfolio through management opportunities as well as opportunities where we can participate in ownership. We see great potential in this property thanks to a local economy that is boosted by international travel, strong tourism, government entities, and educational institutions such as the University of Vermont.”

by Morgan True vtdigger.org Health insurer MVP Health Care and Healthfirst, an association of private doctors in Vermont, recently announced an agreement aimed at keeping private doctors in the insurers’ network and rewarding them for providing quality care.

MVP covers 32,000 Vermonters and Healthfirst represents 130 independent physicians in the state.

The announcement comes as the Vermont Managed Care network begins to shutter its operation.

Vermont Managed Care, owned by Fletcher Allen Health Care, negotiated with health insurers on behalf of a large network of hospitals and independent physicians.

Vermont Managed Care ceased new negotiations in January but will continue to manage existing relationships before being fully decommissioned sometime in 2015, said Churchill Hindes, a Fletcher Allen executive.

Vermont Business Magazine The Vermont Action Coalition has announced the selection of 25 Vermont Nurse Leadership Fellows, including Krystina Laychak, RN, MSN, Director of Nursing at The Manor, Morrisville, VT

At a time when few nurses serve on boards of directors, this class of Vermont Nurse Leadership Fellows will be prepared to seek board positions under the leadership of Betty Rambur, PhD, RN, professor of nursing and health policy, University of Vermont. They will learn leadership skills, strategies for career development, how health policy is developed and implemented, and other essential information. More than 50 Vermont nurses were nominated for the program, and 25 have been selected.

Vermont Business Magazine Modern Healthcare magazine has ranked the Brattleboro Retreat as number 14 on its 2014 list of the 15 largest behavioral health providers in the United States.

The rankings are reflective of net patient revenue in 2012 based on the Centers for Medicare and Medicaid Services Hospital Cost report data. This is the first time the Retreat has appeared on the list.

The Retreat’s net patient revenue in 2012 was $53 million. Though not captured in the report, that number increased an additional nine percent in 2013.

Today, the US EPA recognized three organizations and/or individuals from Vermont at the 2014 Environmental Merit Awards ceremony. The Vermont awardees were among 26 recipients across New England honored for contributing to improving New England’s environment.

Each year EPA’s New England office recognizes individuals and groups whose work has protected or improved the region’s environment in distinct ways. The merit awards, given out since 1970, honor individuals and groups who have shown particular ingenuity and commitment in their efforts.

“We extend our congratulations and gratitude to this year’s Environmental Merit Award winners, who are helping to ensure a cleaner environment and healthier communities here in New England,” said Curt Spalding, regional administrator of EPA’s New England office. “In addition to iconic natural beauty and vibrant communities, New England is fortunate to have citizens who care deeply about the environment we share.”

Agriculture Secretary Tom Vilsack Tuesday celebrated Earth Day by announcing record support for 116 projects that will improve water and wastewater services for rural Americans and benefit the environment. Two Vermont towns, Plainfield and Lyndon, will receive a total of $1.4 million to help the communities install new water lines and make wastewater system upgrades.

“Having reliable, clean and safe water is essential for any community to thrive and grow,” Vilsack said. “I am proud that USDA helps build rural communities from the ground up by supporting water and wastewater infrastructure projects like these. I’m especially proud that we can help communities that are struggling economically and those that have urgent health and safety concerns due to their failing or inadequate utility systems.”

Business leaders at 91 Vermont worksites received awards March 27 for their onsite efforts to promote physical fitness and a healthy work-life balance. Governor Peter Shumlin, state health commissioner Harry Chen, and Janet Franz, chair of the Vermont Governor’s Council on Physical Fitness and Sports, presented the awards. More than 300 people attended the ceremony at the Sheraton Hotel and Conference Center in Burlington.

Through the awards, the council acknowledges efforts made to enhance productivity, bolster a healthy environment, and improve the lives of Vermont citizens.

During the ceremony, Governor Shumlin expressed his support for Vermont companies that understand that a fit workforce leads to a stronger community and a robust state.

The Center for Cartoon Studies (CCS) Eighth Commencement Ceremony takes place on Saturday, May 17 at 11am, at Northern Stage Theater (at the Briggs Opera House) in White River Junction, Vermont. This year’s speaker is the creator of the bestselling Amulet series and illustrator of the Harry Potter book covers, cartoonist Kazu Kibuishi. A special opening reception for the Thesis Exhibition, featuring the graduating students’ original artwork, will take place immediately following the ceremony. All events are free and open to the public.

What: 2014 Commencement Ceremony, with guest speaker Kazu Kibuishi.

Vermont Business Magazine NG Advantage LLC has been trucking compressed natural gas (CNG) to large institutions and industrial customers not located on a gas pipeline since March 2013 from its first compressor station in Milton, Vermont. NG Advantage uses its “virtual pipeline” of 27 tanker trailers to deliver 24/7/365 to customers in Vermont, New Hampshire and northern Massachusetts.

To date the company’s customers have saved the environment from 31,643, 857 lbs. of CO2 emissions by replacing their legacy fuel oil and propane with cleaner, less expensive, American natural gas. Moreover these customers have almost eliminated dangerous sulfur dioxide, nitrous oxides, and particulate emissions.