Current News

Patient Engagement Systems, of Burlington, Vermont, announced today it has enhanced its suite of patient engagement and clinical decision support tools for patients with diabetes and chronic kidney disease (CKD) with the addition of DPS Health’s Virtual Lifestyle Management (VLM) service. Together, this enhancement underscores PES’s commitment to help health plans, medical groups and providers improve outcomes and lower the costs associated with treating patients with chronic conditions.
By enhancing the Patient Engagement Systems’ solution with the VLM service, PES customers will now have access to lifestyle coaching and behavior change services integrated directly with population monitoring, analytics and communication.

by John McClaughry Last week’s Vermont Education Funding System report from the Vermont Realtors Association paints a startling picture of the financing of Vermont elementary and secondary education.
Here are just a few eye-opening findings in the 40-page report, prepared by Dr. Art Woolf and Dick Heaps of Northern Economic Consulting:

Mayor Miro Weinberger announced Monday that the City of Burlington and Citibank have reached a Mediated Settlement Agreement in the Burlington Telecom lawsuit, which will settle the $33-plus million lawsuit for $10.5 million, plus a share of BT’s future value. The settlement is expected to be funded largely from BT revenues and non-City sources and will avoid removal of BT’s fiber optic system. Earlier today, federal district court judge The Honorable William K Sessions, III, granted the parties’ joint request to stay the litigation to allow for implementation of the settlement agreement, following City Council approval and Vermont Public Service Board action.

The North East State Foresters Association (NEFA) and the VT Department of Forests, Parks and Recreation have released a report detailing The Economic Importance of Vermont’s Forest-based Economy. The report highlights the various sectors of Vermont’s economy that depend on wood, forests, and trees. The total economic value of Vermont’s forest economy is pegged at over $3.4 billion dollars for 2012. Among other findings: total forestry related jobs have slipped since a peak in 2008; more than a third of harvested cords are exported and nearly as many are imported into Vermont; total harvest levels are significantly less than they were in 1997; and residential heating is still a vital part of the timber industry.

The Vermont Economic Development Authority (VEDA) has approved $4.7 Million in development financing for commercial energy, small business and agricultural projects throughout Vermont. Financing approvals by the Authority include:
· $2.0 Million to Claire Solar Partners, LLC in South Burlington to help finance the construction and management of a 2.2 MW AC solar array on 22 acres of land on Hinesburg Road (Route 116), adjacent to the Chittenden Cider Mill property. Mascoma Savings Bank also is providing financing for the $8.7 Million project;
· Renewal of VEDA's 75% mortgage insurance agreement for another year's commitment by Wells River Savings Bank to renew its existing loan balance of $117,942 to Bradford Veneer & Panel Co., Inc. in Bradford. Original loan proceeds allowed the company to restructure its debt and provide it with working capital;

by Timothy McQuiston Vermont Business Magazine There is the demographic problem, both with a minuscule population growth and finding the right workers for jobs that are going vacant; there is New York state and its no-tax pledge for new companies for 10 years; there is the painfully slow emergence from the Great Recession, now nearly five years gone (June 2009); there is a budget shortfall; there is the closing of the Vermont Yankee nuclear power plant and its uncertain decommissioning; there is at least one tax hike coming, though perhaps a few relatively small ones; and there is the weather, which anyone can complain about. So why are the state economists so upbeat?
Jeff Carr and Tom Kavet. VBM photo.

by Evangelos Otto Simos The VBM/e-forecasting.com VT Leading Economic Indicator, Vermont's early bird of economic activity, increased in November 2013 to a reading of 121.2 where 2000 is set equal to 100.
The private forecasting service said the composite Vermont index of state leading indicators, which is produced jointly with Vermont Business Magazine, increased 0.2 percent in November following an increase of 0.3 percent in October.
Seven of the nine components that make up Vermont's Leading Indicator had a positive contribution in November: Unemployment Claims, Exports of Manufactures, Consumer Expectations (Regional), Stock Prices (National), Interest Rate Spread, Technology Index (National), and Canadian Outlook. Two of the nine components had a negative contribution to Vermont's Leading Indicator in November: Weekly Hours in Manufacturing, and Building Permits.

The Earned Income Tax Credit (EITC) can make life a little easier for working Vermonters struggling to make ends meet with a credit up to $6,044. In addition, any family with dependent children who receives the Vermont EITC is automatically income eligible for food benefits through 3SquaresVT ‘ meaning their income and resources don’t count. The IRS estimates one in five eligible taxpayers could miss out on EITC because they are unaware of this valuable tax credit.

Susan L Donegan, commissioner of the Vermont Department of Financial Regulation, announced today that Michael Pieciak has joined the DFR team as deputy commissioner of the Securities Division.
Pieciak grew up in Brattleboro and graduated from Union College with a degree in political science. He received his law degree from the University of Miami School of Law where he served as editor-in-chief of the ‘Miami Law Review.’ Active in politics, he served as executive page to Governor Howard Dean and as an intern for Senator Patrick Leahy. He previously worked at Downs Rachlin Martin in Burlington and comes to us from Skadden, Arps, Slate, Meagher and Flom in New York City where he practiced in the mergers and acquisitions group.
Donegan said she is pleased to welcome Pieciak back to his roots and to the department.

Vermont Businesses for Social Responsibility (VBSR) is excited to announce the formation and launch of a Southern Vermont VBSR Chapter. Designed to give forward-thinking professionals an ongoing forum to network with like-minded peers, learn about operating their businesses in a socially responsible context, and discuss issues unique to the region, the chapter is open to VBSR members and guests from Rutland, Windsor, Windham, and Bennington counties. The first Southern Vermont VBSR Chapter Meeting will be held February 11 from 5:30 to 7:30 PM, at the Marlboro College Graduate Center in Brattleboro.

by Mary Powell With the recent decision by Entergy to shut down the Vermont Yankee power plant, I have heard a lot of questions from our customers about what this means for the price of electricity. The questions all come down to a single concern: will Green Mountain Power need to charge our customers more, now that Vermont Yankee will no longer be producing power?
The answer is an emphatic ‘no.’ GMP has not purchased power from Vermont Yankee in nearly two years. When our last long-term contract with VY expired back in 2012, we were unable to negotiate a power purchase agreement with Entergy that met our commitment to deliver power to our customers at the lowest price possible.

Senator Patrick Leahy (D-VT), Senate President Pro Tempore and chairman of the Appropriations Committee's State Department and Foreign Operations Subcommittee, and Senator Bernie Sanders (I-VT), a member of the Senate environment and energy committees, reacted with trepidation to the State Department's final EIS on the proposed Keystone XL Pipeline, which was released Friday.
Leahy said: "I look forward to reviewing the Final Environmental Impact Statement for the Keystone XL Pipeline.
"While this process has included more than 1.5 million public comments and several years of analysis, I am concerned that it may not fully take into account the overwhelming evidence that this project will greatly accelerate the release of greenhouse gas pollution and further worsen climate change. This process was fraught with earlier missteps, and now a further review will occur, which is intended to evaluate this project in terms of our own national interests.