Current News

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.

NORTHFIELD, VT ‘ The Norwich University Alumni Association (NUAA) will honor Central Vermont Medical Center (CVMC) and Fletcher Allen Health Care with a special award recognizing each as a Norwich ‘Employer of Distinction’ at an evening reception and dinner on Monday, Feb. 3, at 5 p.m.

The NUAA presents this award to employers across the country that recognize the value of hiring Norwich graduates for their operations. Together CVMC and Fletcher Allen employ nearly 100 graduates from a variety of Norwich University’s academic programs including nursing, biology, business administration and information security.

‘The mission of service that defines these two great medical centers aligns perfectly with the Norwich value of service before self,’ said Charlie O’Neil, president of the NUAA board of directors. ‘It’s a great honor to formally recognize both CVMC and Fletcher Allen as long-time partners of the university.’

Secretary of State Jim Condos announced that, in February of 2014, the Secretary of State’s Office will begin implementation of a new elections system that is made up of a suite of integrated software applications. These new applications will provide Vermonters with easier access to information, improve transparency, and strengthen the overall reliability of elections functions.
‘I am extremely pleased to make this announcement today ‘ this is a huge step forward for Vermont. Among the many benefits of the new elections system, the chief benefits are that it will enhance the security, accuracy, and integrity of our elections,’ remarked Secretary Condos.
The new elections system will support: Vermont’s voter registration checklist, absentee ballot tracking, election management, campaign finance reporting, and lobbyist disclosure.

The State of Vermont Working Lands Initiative Board announced over $400,000 in awards to Grantees representing sectors across agriculture, forestry, and forest products
Chris Brooks and Katie Adams, Mike Snyder, Chuck Ross
Vermont Wood Pellet Company, LLC received a $38,160 to fund new equipment to increase efficiencies in their manufacturing and wood pellet production volume. This round of grants is the first initiative of its kind that was approved in Vermont’s 2013 budget.

Comment of Senator Patrick Leahy on Vermont site no longer considered for East Coast missile defense site January 31, 2014.
‘The ground-based interceptors being contemplated for an East Coast missile defense site cost huge sums of money, without delivering reliable capability. I welcome the news that Vermont’s Camp Ethan Allen will not be considered as a site, and I continue to pursue redirecting those funds toward projects that have more proven and cost-effective success in keeping Americans safe.’

by Morgan True vtdigger.org The state pledged to make 90 percent of health care payments ‘value-based’ within five years, as part of its application for a $45 million state innovation grant.
Anya Rader Wallack, a consultant for the state who leads the team that is allocating the State Innovation Model grant award, said payments to providers must be in some way be tied to quality of care.

Senator Patrick Leahy (D-Vermont) praised Senate passage Thursday of legislation that would provide relief to homeowners subject to dramatic increases in flood insurance rates. The legislation would ensure that the Federal Emergency Management Agency completes a study on flood insurance affordability before new premiums take effect.
‘Tropical Storm Irene brought into sharp focus the importance of the National Flood Insurance Program for non-coastal states like Vermont. Efforts to strengthen the program were never intended to produce policies that put an unfair burden on homeowners. Conducting the affordability studies required by the Homeowner Flood Insurance Affordability Act before any such substantial premium increases were implemented is a prudent step that will provide relief to many Vermonters. I hope the House will consider this remedy soon to provide needed relief to homeowners already feeling the crunch of these often crippling new fees.’