Current News

by Laura Krantz vtdigger.org Amanda Bean finally got tired of losing everything. The mother of five spent much of her adult life incarcerated and a slave to opiates and other drugs. Her lifestyle choices cost Bean her three oldest children, who now live with her parents.
Finally, Bean had had enough. After spending the past three months of her most recent pregnancy homeless, Bean was admitted a week before she delivered to Lund Family Center, a mental health and substance abuse treatment center for mothers in Burlington.

Telemedicine used at nursing homes during hours when doctors are not typically present is a viable way to reduce avoidable hospitalizations, according to research published in February’s issue of Health Affairs.
Hospitalizations of nursing home residents are occurring more frequently, and result in complications, morbidity and expensive Medicare costs. When a medical issue arises on nights and weekends that cannot be addressed by the on-call physician not present at the facility, the doctor can either travel to the nursing home or recommend that the resident be sent to the hospital emergency room. Very often, the physician recommends the hospital emergency room.

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.