Current News
by tim
People's United Financial, Inc (NASDAQ: PBCT) today reported net income of’ $59.3 million, or’ $0.20’ per share, for the fourth quarter of 2013, compared to’ $61.2 million, or’ $0.18’ per share, for the fourth quarter of 2012, and’ $58.5 million, or’ $0.19’ per share, for the third quarter of 2013. ‘ Operating earnings were’ $60.0 million, or’ $0.20’ per share, for the fourth quarter of 2013, compared to’ $63.2 million, or’ $0.19’ per share, for the fourth quarter of 2012, and’ $60.8 million, or’ $0.20’ per share, for the third quarter of 2013.
For the year ended’ December 31, 2013, net income totaled’ $232.4 million, or’ $0.74’ per share, compared to’ $245.3 million, or’ $0.72’ per share, for 2012.’ Operating earnings were’ $241.1 million, or’ $0.77’ per share, for 2013, compared to$253.9 million, or’ $0.75’ per share, for 2012.
by tim
by John Herrick vtdigger.org
A hearing on Vermont Yankee Tuesday evening drew some pointed criticism over the state’s agreement with Entergy on the plant’s upcoming closure and proposed decommissioning.
At the same time, others testifying before the quasi-judicial Public Service Board (PSB) argued the state’s agreement provides the best deal possible for when the 41-year-old plant closes at the end of 2014.
by tim
Union Bankshares, Inc (NASDAQ - UNB) has announced net income for the year-end 2013 was $7.1 million, which represents a 4.3 percent increase over net income for the year-end 2012 of $6.8 million. ‘ Earnings per share as of December 31, 2013 increased to $1.60 per share, compared to $1.54 per share, for 2012. ‘ Results for 2013 reflect a year to year increase in net interest income of $345 thousand, or 1.6 percent, a decrease in the provision for loan losses of $355 thousand, or 53.8 percent, a decrease in noninterest expenses of $1.8 million, or 7.9 percent. ‘
by tim
The’ Spates Block in Downtown Newport - Bill Stenger and Ariel Quiros now own the Spates Block on Main Street and plans are moving forward for the new commercial space soon to be’ called the Renaissance Block. Demolition and’ construction will begin’ this summer on the’ $50 million EB-5 project.’ Newport City planners are involved with the architectural design of the Renaissance Block and the permit’ process.’ ‘ ‘ ‘ ‘ ‘ ‘ ‘ ‘ ‘ ‘
Jay Peak Resort
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Moody’s announced Wednesday an improvement in Burlington International Airport’s revenue bond outlook from Ba1 negative to Ba1 stable on the City of Burlington's $43.16 million revenue bonds. This improved outlook is the result of a variety of reasons which are outlined below.
Gene Richards, left, listens as Mayor Miro Weinberger speaks during the announcement last November that Allegiant Air would be offering seasonal, direct service to Orlando.
BTV’s Director of Aviation, Gene Richards, said, ‘The improvement in the bond rating demonstrates the bright future ahead for the airport and shows the hard work of the BTV Team, through the direction of the Mayor, in ensuring that BTV remains financially strong for many years to come.’’
by tim
Food entrepreneurs have added at least 2,220 new jobs and at least 199 new businesses to the Vermont economy since the 2009 launch of the Farm to Plate Investment Program. Over the same time period, total employment across all economic sectors grew by 7,654 new jobs. Food manufacturing jobs are at the heart of Vermont’s ‘Recession’ recovery, increasing from 4,628 to 6,121 jobs (a 32% increase). These numbers were released yesterday by the Vermont Sustainable Jobs Fund in the 2013 Farm to Plate Annual Report.’
by tim
A public forum on the impact of industrial wind towers on property values will take place on Friday, January 17, at 6:30 pm at the White Church, 55 Main Street, Grafton. This is the second of three forums on Wind Development in Rural Communities sponsored by Vermonters for a Clean Environment, a statewide not-for-profit organization.’
Michael McCann, a professional real estate appraiser, will be the main speaker. McCann is a Chicago based appraiser who has studied and appraised wind project impacts on property values from coast to coast, and has qualified and testified as an expert witness on this subject before various zoning boards, siting committees and litigated cases.’ ‘
by tim
Scott Giles, president and CEO of Vermont Student Assistance Corp, will testify before the Senate Committee on Health, Education, Labor & Pensions, Thursday, January 16 at 10 am.’
Giles’ testimony is part of the committee’s hearing, ‘Strengthening Federal Access Programs to Meet 21st Century Needs: A look at TRiO and GEAR UP,’ as Congress prepares to reauthorize the Higher Education Act this year. The hearing will be webcast live.’ ‘
Giles joins a panel of six other experts in improving higher education access for Americans, particularly low- and middle-income students and those who are the first to pursue education beyond high school.’
by tim
Adding to efforts to make Rutland the solar capital of New England, the Solar Center at Rutland Regional Medical Center is now on-line.’ The solar farm, built through collaboration between Green Mountain Power and Rutland Regional Medical Center, is a 140.4-kilowatt system showcasing a touch-screen production monitor, a walking path and educational materials for visitors.’
Visitors to Green Mountain Power’s downtown Energy Innovation Center can also track the production of the new solar farm on a digital display, which shows how much energy is produced, the amount of coal required to produce the same amount of energy, and related data.’
by tim
by John Herrick vtdigger.org Lawmakers are considering a plan to tax the state’s natural gas pipelines to fund renewable energy projects. The new taxing scheme could raise millions for renewables as Vermont Gas Systems charts a southern pipeline expansion through Addison County on the western side of the state.
The proposal, to be introduced to the Senate Finance Committee on Wednesday, would divert pipeline tax revenue into the Clean Energy Development Fund from the state’s Education Fund, where the revenue goes under current tax policy. Because the Education Fund is facing tough fiscal pressures, the proposal may raise concerns about the monies that would be diverted.
by tim
The Vermont Agency of Natural Resources announced the release of the draft Deerfield River and Lower Connecticut River Basin (Basins 12 ‘ 13) Water Quality Management Tactical Basin Plan for public comment today. This plan reflects years of preparation within the region to evaluate the health of the basin. ‘
The Basin 12-13 Water Quality Management Plan provides an overview of the health of the basin and a description of the priority future and ongoing steps to restore and protect the quality of its surface waters. ‘ Watershed Coordinator, Marie Levesque Caduto said, ‘This Plan reflects what is happening on the ground with the rivers, streams and lakes in southeastern Vermont.’ The Agency is looking to the communities for information on anything they are aware of that we might have missed.’ I hope folks will take the time to look at it and share their knowledge of local waters.’ ‘
by tim
The Chittenden County Transportation Authority (CCTA) strives to incorporate green practices into its daily operations as it helps residents, employees, and visitors in its service area make sustainable transportation choices. The mission of CCTA is to operate safe, convenient, accessible, innovative and sustainable public transportation services in the Chittenden County region that reduce congestion and pollution, encourage transit oriented development and enhance the quality of life for all.
CCTA actively works to fulfill this mission through a variety of ongoing green initiatives, including: