Current News

By JACK HOFFMAN. Do wealthy residents move if they are asked to pay more in taxes? Another reliable report’the fourth this year’says they do not. This latest was from the Center on Budget and Policy Priorities in Washington, D.C. It was both a review of recent studies that show no or weak connections between taxes and people’s moving from state to state and an analysis of cases where data about taxes and migration have been misused.
‘This claim [about tax flight] is false,’ said Robert Tannenwald, former vice-president of the Federal Reserve Bank of Boston and one of the co-authors of the report. ‘The effects of taxes on migration are, at most, small’so small that states that raise income taxes on the wealthiest households will see a substantial net gain in revenue.’
There is good recent evidence to support Tannenwald:

There are ever more rankings of colleges, and of hospitals, graduate schools, law schools, cities and towns. Now Forbes magazine joins Newsweek in the college ranking scene. And Saint Michael's College has landed at number 88 nationwide out of 650 institutions. Forbes says their methodology provides families the best guidance for making one of the most important decisions they will make’choosing the right college for their student.
Forbes describes their approach this way:
‘Our annual ranking of the 650 best undergraduate institutions focuses on the things that matter the most to students: quality of teaching, great career prospects, graduation rates and low levels of debt. Unlike other lists, we pointedly ignore ephemeral measures such as school ‘reputation’ and ill-conceived metrics that reward wasteful spending.’

According to the Kaiser Family foundation, the average per-person health insurance premium in 2010 ranged in cost from approximately $136 per month in Alabama to more than $400 per month in Vermont and Massachusetts. The average across for all states was $215 per member per month. (see chart below)

Lieutenant Governor Phil Scott was elected to the Executive Committee of the National Lieutenant Governors Association (NLGA). NLGA is the professional association for the officeholders first in line of succession to the governor in all 50 states and the U.S. territories.
"Lt. Governor Scott was elected to this position by his peers, and received broad bi-partisan support," said NLGA Executive Director Julia Hurst. The selection of new officers happened at the association's annual meeting, held July 27-29 in Puerto Rico. Scott, who was not able to attend the conference, accepted the nomination last week.
"As a NLGA leader, Lt. Governor Scott will work with other lieutenant governors across the nation to find and foster multi-state and regional solutions to problems," said Nebraska Lt. Governor Rick Sheehy, who serves as NLGA Chair. "Through NLGA, the nation's lieutenant governors discuss shared concerns and seek to influence national dialogue."

The Rutland Southern Regional Airport in Vermont and the Lebanon Municipal Airport in New Hampshire have been spared from a House bill that, if passed, would cut a federal subsidy to numerous rural airports across the country.
According to Andrew Bonney, the vice president for planning for Cape Air, a regional airline that serves the two small airports in Rutland and Lebanon, the bill in Washington is attempting to eliminate ‘wasteful’ spending on airports that are within 90 miles of a major airport hub; both the Rutland and the Lebanon airport were further than this distance. 13 airpots across the country are still at risk if the bill is passed.
The federal government provides the Federal Aviation Administration (FAA) with funding for their Essential Air Service Program that subsidizes rural airports across the country. The Rutland airport receives $797,000 a year from this program and the Lebanon airport receives $2.3 million.

FairPoint Communications, Inc (NasdaqCM: FRP), the major provider of communications services in Vermont, New Hampshire and Maine, today announced its financial results for the second quarter ended June 30, 2011. Net loss was $27.1 million in the second quarter of 2011 as compared to a net loss of $54.2 million a year earlier.

Consolidated EBITDAR increases to $70.5 million in the quarter on revenue of $262.6 million
High-speed Internet subscriber growth accelerates to 5.4% year-over-year versus a 1.9% loss a year earlier
Voice access line loss slows to 9.3% year-over-year versus 11.6% a year earlier
Net loss improves to $27.1 million versus $54.2 million a year earlier

Champlain College is one of the country's best institutions for undergraduate education, receiving high marks for its classroom experience for students, college town quality of life and campus sustainability efforts, according to The Princeton Review. The education services company features the school in the just released 2012 edition of its annual college guide, "The Best 376 Colleges."
Only about 15 percent of America’s 2,500 four-year colleges and three colleges outside the U.S.A. are profiled in the book, which is The Princeton Review's flagship college guide. This is the first year Champlain College has been included on the list of best colleges.
Champlain College President David F. Finney said, "This recognition is a reflection of everyone at Champlain College for a continued commitment to providing the most student-centric, professionally-focused, education in the country."

The Vermont Telecommunications Authority and VTel Wireless have reached an agreement regarding Target Communities selected to receive broadband services. By November 2012, VTel Wireless will provide broadband accessibility to Backroads Broadband Target Communities within the towns of Newfane, Westminster, Stratton and Wardsboro. Equipment installed to service these Target Communities will also provide expanded broadband coverage to areas within the towns of Putney, Townshend, and Dummerston. More than 1600 addresses will have access to the new service, which will provide broadband service that supports the delivery of services with an upload speed of at least one megabit per second and combined download and upload speeds equal to or greater than five megabits per second.

More than $1 million in US Small Business Administration Disaster Assistance Loans have been approved for Vermont residents who were affected by the severe storms and flooding that occurred from April 23 - May 9, 2011Homeowners and renters who cannot afford a loan may be referred to FEMA for possible grant funds. There is a tendency for survivors to discard SBA disaster loan applications because they may not want a loan. However, they risk missing out on grants by not returning completed applications to SBA.

Next Thursday (August 11th) Burlington’s Dealer.com will be hosting the second annual Woody Classic ‘ a local tennis match and celebration open to the public. As a neat throw-back to the 70’s and 80’s, competitors are required to use wooden racquets and dress in retro-style athletic gear. In addition, the event will culminate with a ‘Sunday Bash’ where families are encouraged to attend and enjoy the food and free activities while cheering on the finalists (who are competing for prizes valued at more than $4,500).
WHAT: Tennis athletes and fans are invited to dust-off their headbands and travel back to the era of John McEnroe and Bjorn Borg’s classic rivalry by participating in the second annual Dan Bonfigli Woody Classic ‘ a local tennis competition requiring athletes to use wooden racquets and show off their retro-style sportswear in honor of the heyday of 1970’s and 1980’s tennis.

US Small Business Administration Deputy Administrator Marie Johns will tour Sonnax Industries, a Bellows Falls and SBA success story. Sonnax Industries, a designer, producer and distributor of automotive transmission components for the automotive aftermarket, has been announced as part of the ‘SBA 100.’ After receiving an SBA loan, the company increased revenue, expanded their facility and hired an additional 118 employees.
The SBA 100 features one hundred businesses that have created at least 100 jobs since receiving SBA assistance. Descriptions and a photograph gallery of each of the SBA 100 companies can be found at www.sba.gov/100.
The SBA 100 companies include businesses in a variety of industries, from manufacturing, to food and beverage, to shipping. Each business received SBA support in the form of capital, contracting, counseling or investment before going on to create at least 100 jobs.

Mobile Medical International Corporation (MMIC) and ORBIS International are pleased to announce that the world’s only Flying Eye Hospital will be landing in Burlington, Vermont for two days later this month. The Flying Eye Hospital, a state-of-the-art surgical and training facility housed inside of a DC-10 aircraft, will be on display at the Heritage Aviation facility at Burlington International Airport on Tuesday, August 30 and Wednesday, August 31.