Current News

Twin Pines Housing Trust and Ledyard National Bank are proud to announce that the Federal Home Loan Bank of Boston (FHLBB) approved Affordable Housing Program funding for the Hartford (Vermont) Scattered Site Project. The Affordable Housing Program allows the Federal Home Loan Bank of Boston to address, in partnership with member institutions such as Ledyard, affordable-housing needs primarily in communities across New England.
The Hartford Scattered Sites Project involves the rehabilitation of eight buildings on five distinct properties in Hartford, Vermont.’ It will help preserve, for the long-term, a vital housing resource for low-income families in the Town of Hartford.

Blake Hill Preserves, producers of all-natural, artisanal chutneys, jams and marmalades, is excited to announce that its rich Plum & Fennel Chutney has won this year’s Good Food Awards ‘ the first ever chutney to win in the four-year history of the Awards. Not only is this honor a record breaker for the Good Food Awards, but the organization has also bestowed accolades on two additional Blake Hill Preserves entries. Nominated as Finalists are the Grapefruit, Lemon & Thyme Marmalade, and Raspberry & Hibiscus Jam. Blake Hill is the first preserves maker ever to receive three Good Food Awards in one year.’

Gemstone Hotels & Resorts, a full-service hotel management company that specializes in owning and operating luxury and upscale urban hotels and resorts, today announced the company has assumed management of the 120-room, AAA Four Diamond Essex Culinary Resort and Spa in Essex, Vermont. The resort, formerly knows as the Inn at Essex, is situated on 18 acres tucked between Vermont's Green Mountains and Lake Champlain.
"Essex Culinary Resort and Spa is a hand-in-glove fit with our growing portfolio of 18 luxury and upscale resorts and hotels," said Jeff McIntyre, principal of Gemstone. "Essex is smartly on-trend for today's food-savvy, wellness-focused traveler, and our team has a unique understanding of the operational and marketing needs of one-of-a-kind resort properties. Gemstone specializes in creating and celebrating 'brands of one'."

by Hilary Niles vtdigger.org A new statutory definition of ‘independent contractor’ is in the works ‘ again. The effort is driven in part by Vermont’s burgeoning creative economy, including game designers, computer programmers and website developers, according to Secretary of Commerce Lawrence Miller.

Northfield Savings Bank is dedicated to giving back to Vermont communities.’ Known for its role as a corporate citizen, NSB proudly donates 10% of profits to Vermont community organizations. In 2013, NSB donated $560,000 to over 175 non-profits to end hunger, teach literacy, protect the environment, promote the arts, and more.’
The Boys and Girls Club of Burlington is one organization which received support for their afterschool programs.’ Tanya Benosky, Director of Development for’ the Club, states ‘Northfield Savings Bank has been an important part of the Boys & Girls Club community for many years.’ They have partnered with us to ensure that our Club members have what it takes for them to be successful, be it providing nutritious food and wellness activities or academic and career support.’ We are very fortunate to have such a thoughtful community partner by our side, providing opportunities that help vulnerable youth realize their full potential.’’

As Vermont endures another cold snap and power prices in the region escalate, Green Mountain Power notes that power from Kingdom Community Wind (KCW) in Lowell continues to offset the high peak prices in the marketplace for Vermonters.
During the bitter cold in December, energy prices on the open market hit a high of 60 cents per kilowatthour. During that same period, KCW generated at 9.3 cents per KWH enough power for 16,500 homes from wind. Green Mountain Power stated that this is part of its continued commitment to deliver reliable, low-cost energy to Vermonters, and Kingdom Community Wind is a key initiative.

Merchants Bancshares, Inc (NASDAQ: MBVT), the parent company of Merchants Bank, announced that its Board of Directors declared today a dividend of 28 cents per share, payable February 20, 2014, to shareholders of record as of February 6, 2014. This quarter represents its 69th consecutive quarterly dividend payment and its 33rd consecutive quarter at the current payout level.
Merchants also announced the extension, through January 2015, of its stock buyback program, originally adopted in January 2007. Under the program, Merchants may repurchase up to 200,000 shares of its common stock on the open market from time to time, and has purchased 143,475 shares to date. Although Merchants did not repurchase any of its shares during 2013, Merchants would like to continue to preserve its capital management flexibility with an active buyback program.
Merchants plans to release earnings on or about January 28, 2014.

by John Herrick vtdigger.org The Environmental Protection Agency wants to see a stronger commitment from the state to clean up Lake Champlain. In a letter to state environmental and agriculture officials last week, the EPA pressed for more details on a plan to reduce phosphorus loading into Lake Champlain. The feds asked the state to provide specific policy commitments, timelines and details, including outcome measures and the delegation of authority.

State Treasurer Beth Pearce will present a proposal to the Vermont State Employees’ Retirement System Board of Trustees that would add a fossil-free mutual fund investment option for employees contributing to the State’s deferred compensation plan. The proposal will be presented at their February 13 meeting.’
‘Employees have the opportunity to invest their supplemental retirement savings in socially responsible investment funds through the deferred compensation plan,’ said Pearce. ‘I am proposing that we add to those options a fossil-free mutual fund alternative. This will provide interested employees with a new investment option and, at that same time, allow Trustees to meet their fiduciary obligation to maximize returns on investments.’’

by John Herrick vtdigger.org Regional planners should be armed with energy plans before developers propose new power projects in their communities, says Chris Recchia, commissioner of the Department of Public Service.
Senate lawmakers want to give landowners and residents a voice in the state’s process to approve energy projects, a process that has received heightened attention in the wake of recent industrial-scale wind development.
Department of Public Service Commissioner Chris Recchia testifies at the Statehouse in September. File photo by Andrew Stein/VTDigger
The Senate Natural Resources and Energy Committee heard testimony Tuesday on a bill, S.201, to give landowners and regional planners a clear chance to present their case before the quasi-judicial Public Service Board.

Entergy Corporation (NYSE: ETR) Wednesday indicated that it expects fourth quarter 2013 as-reported earnings of approximately $0.81 per share and operational earnings of approximately $0.99 per share. Results for fourth quarter 2012 were $1.66 per share on an as-reported basis and $1.72 per share on an operational basis. Entergy also affirmed previously issued operational earnings guidance for 2014.
As-reported results are prepared in accordance with generally accepted accounting principles (GAAP) and are comprised of operational earnings (described below) and special items. Special items were recorded for:
‘¢ an impairment and other expenses associated with the planned closure of the Vermont Yankee Nuclear Power Station and the related settlement agreement reached with the state of Vermont in fourth quarter 2013,
‘¢ expenses for the implementation of the human capital management strategic imperative in fourth quarter 2013, and

EPA Region 1 will hold a public hearing Feb. 26, 2014 in our downtown Boston office to get public input on proposed standards for the amount of air pollution that can be emitted by new woodstoves and other residential wood heaters. The first phase of the proposed emission standards would likely apply to units manufactured and sold beginning in 2015.
Smoke from residential wood heaters can increase air pollution from soot (also known as fine particle pollution) and toxic pollutants to levels that pose serious health concerns. Particle pollution is linked to a range of serious health effects, including heart attacks, strokes and asthma attacks. In some areas of New England, residential wood smoke significantly reduces air quality in winter months.