Current News
by tim
Seeking to turn Vermont's raw agricultural output into value-added products, several Vermont lawmakers and advocates announced the introduction of the Vermont Working Lands Enterprise Investment bill on Wednesday morning in the Vermont State House.If passed into law it would set up a program funded by the state's General Fund that would distribute $3 million in the first year, eventually reaching $15 million a year.The program would seek to expand production of higher-end manufactured products, such as specialty cheese, furniture and cider, from the raw materials, like milk, hardwoods and the flagging apple industry. The raw materials, especially forestry products, often leave the state to be processed elsewhere.
by tim
Casella Waste Systems, Inc. (NASDAQ: CWST), based in Rutland, VT, a regional solid waste, recycling and resource management services company, announced today that it intends to convert the interest rate period on, and remarket, $21.4 million aggregate principal amount of Finance Authority of Maine Solid Waste Disposal Revenue Bonds (Casella Waste Systems, Inc. Project) Series 2005 (the "Bonds"). The Bonds were originally issued on December 28, 2005 and have a final maturity of January 1, 2025.
by tim
Revision Military, based in Essex Junction, VT, the world leader in protective soldier solutions, introduces the Sawfly Photochromic Eyewear System. Featuring Revision’s rapid light-changing technology, first introduced in its Hellfly Ballistic Sunglasses, the ballistic photochromic Sawfly lens automatically darkens to a sunglass tint when exposed to sunlight and returns to its clear state in the absence of UV rays, providing a tactical edge in rapidly changing environments.
by tim
Vermont Mutual Insurance Group recently celebrated the opening of their new claims office located on Industrial Lane in Berlin. More than 50 claims professionals are currently working in this office and the company plans to add additional staff at this facility. Vermont Mutual Insurance Group was incorporated in 1828 and their corporate headquarters are located on State Street in Montpelier. Through their three companies, Vermont Mutual, Granite Mutual and Northern Security, the Group provides property and casualty insurance in all the New England states and New York. The Group currently employs 215 and markets their policies through the Independent Agency system.
Governor Peter Shumlin is scheduled, on Friday, May 4 2012 to recognize Vermont businesses that have made a major commitment to providing safe work places for their employees. The Governor’s Award for Outstanding Workplace Safety will be presented at the annual Workplace Safety Conference at the Double Tree Conference Center in South Burlington. Typically such companies have lower costs of doing business and increased production benefiting both the company and its workers.
The criteria for consideration involves an experience modification (MOD Rate) of less than .90, no workplace fatalities or catastrophic injuries for the past three years, an active Safety Committee that includes both management and workers, and a written safety and health policy. Companies that meet the criteria are encouraged to nominate themselves. Nominees will also be asked how safety has improved their businesses, how they assess their safety program and how they track improvements.
by tim
With the most terrain open in the east and a winter snowstorm hitting the Green Mountains this week, Vermont ski areas have prime trail conditions that are expanding every day to welcome all of our skiing and riding faithful for Safety Awareness Week.
The annual National Safety Awareness Week is January 14 ‘ 22 with a variety of events, programs and activities at Vermont ski resorts. Learning Your Responsibility Code, helmet use and terrain park safety are important focuses of the week. More information on National Safety Awareness Week is found at: www.nsaa.org/nsaa/safety/.
by tim
Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR), a leader in specialty coffee and coffee makers, today announced that the Company plans to announce financial results for its fiscal 2012 first quarter in a press release to be issued following the close of the financial markets on Wednesday, February 1, 2012. These results are widely anticipated as GMCR stock fell from over $100 per share to under $50 late last year under a barrage of investor opposition to its business practices and a class action suit, and because of what Wall Street felt was disappointing 2011 financial results. The stock closed January 10, 2011, at $47.99 after a high of $115.98 on September 20, 2011.
by tim
The Vermont Department of Taxes (VDT) has fully identified all three parties that accessed personal tax data inadvertently displayed from Property Transfer Tax Returns on a vendor portion of its website on January 9th. The immediate investigation of the incident led to the following findings:
Three parties accessed the data. All three parties have been identified and contacted.
All three parties have confirmed that the data was not disseminated to other parties, and they have destroyed the data.
Two of three parties could not open or see the data file, as it was corrupted.
by tim
US semiconductor maker Ramtron International Corporation (Nasdaq: RMTR), a leading developer and supplier of low energy nonvolatile ferroelectric random access memory (F-RAM) and integrated semiconductor products, today announced that it has made initial customer deliveries of a custom designed F-RAM device built on its new IBM manufacturing line in Burlington, Vermont. In addition to 50,000 devices already shipped, the company expects to ship approximately 1.9 million devices over the next few quarters with a potential for significantly higher volumes in the future. The Ramtron-designed custom F-RAM devices are destined for use in generic printer cartridges.
by tim
From youth mentoring to job skills programs, transitional housing and homeless prevention programs to adult literacy, KeyBank provided grants and sponsorships totaling $305,000 to more than 125 Vermont organizations in 2011.
Funds from the KeyBank Foundation supported programs helping Vermonters achieve economic self-sufficiency, including financial counseling through the Champlain Housing Trust, a grant to the Intervale Foundation to help farmers grow their businesses and support of Linking Learning to Life's College Connections program.
KeyBank also sponsored community events such as the KeyBank Vermont City Marathon, 5x5x5 Growth Awards, Key4Women Forum, Vermont Maple Festival, First Night Burlington, Strolling of the Heifers, Green Mountain Derby Dames and Lake Champlain Sailing Center’s Rock the Dock.
by tim
Natural disasters exacted a significant financial toll on the United States in 2011. The Insurance Information Institute reports that insured losses from a series of disasters ‘ which included devastating spring tornadoes in the Midwest, floods in the southeast, wildfires in the southwest, and Hurricane Irene ‘ totaled $35.9 billion.
Small businesses were hit particularly hard as many were forced to close during these disasters, causing economic injury to many that were already struggling. The factors that cause financial losses after a disaster, however, can be offset by having a recovery plan in place.
by tim
The Vermont office of the US Small Business Association has released loan volume numbers for December 2011 and for the first quarter of the fiscal year (October 1 to December 31). Volume and value were down from the same period last year. The December 2011 total was 25 loans for $6.7 million (55 for $18.6 last year) and for the quarter were 63 loans for $11.3 million (120 for $30.8 million in 2010).
SBA, MONTPELIER, VERMONT DO #0150
December 1, 2011 --December 31, 2011
LOAN VOLUME BY BANK BY NUMBER OF APPROVALS
#
$$
# 504 loan
$$ 504 loan
Bank of Bennington
2
35,000
Borrego Savings Bank
1
600,000
Citizens National Bank
2
55,000
1
87,000
Mascoma Savings
1
2,654,000