Current News

Captive insurance professionals from throughout the United States and around the world will gather in Burlington, Vermont next week for the world's largest captive insurance conference, August 9-11, 2011 at the Sheraton Hotel and Conference Center and the University of Vermont's Davis Center. The event is the 26th Annual Conference hosted by the Vermont Captive Insurance Association.

Attorney Peter D Van Oot of the law firm Downs Rachlin Martin PLLC has been named Volunteer of the Year for 2011 in the eleven northeast states by the Northeast Economic Development Association. The award will be presented at NEDA’s annual meeting on October 24 at the Sheraton Hotel in Burlington.

The results of a study indicate that Lamoille County second homeowners contribute $47.7 million per year to the Lamoille County economy.
Of that, $17.4 million are paid in property taxes per year ‘ with Stowe accounting for 71 percent. Second homeowners who own condominiums or townhouses spent $11.8 million in associate dues and related fees. The study found $5 million was spent on fuel and groceries. Additionally, Lamoille County second homeowners spend about $4.5 million on restaurant dining, $330 thousand on ski passes, and $25 thousand on hunting and fishing licenses.
Second homeowners also contribute to the well being of the community. 54 percent donate money to social causes and 18 percent volunteer for various charities, the arts, music and other social causes.

It will soon be easier for local families to access fresh food and other goods from local, Lamoille County farmers and value-added producers. An innovative on-line farmers’ market is being established by the Lamoille Economic Development Corporation in partnership with local farms.
Farmers and shoppers can find the market at www.yourfarmstand.com, under ‘Morrisville’ and register and set up their account right on-line. Farmers can reach a larger number of buyers while customers benefit from the diversity of products, prices and participating farms. The model has worked well in other Vermont locations and LEDC was approached by some area farms to organize the project here.

ilumisys, Inc. (http://www.ilumisys.com), developer and producer of next-generation solid-state lighting technology, announced today that it has partnered withLEDdynamics, Inc., based in Randolph, Vt. The partnership includes a license for Altair's patents on light-emitting diode (LED) fluorescent tube replacements.
"LEDdynamics is an established industry leader in solid-state lighting, and we look forward to working together to address the growing market demand for LED lighting solutions," said Dave Simon, president of ilumisys. "We are excited at the growth prospects for both organizations as ilumisys ramps up ourMichigan-based manufacturing operations."

A cooperative in northern Vermont serving a largely rural area has proven that even small utilities can achieve great smart grid results by planning wisely. For improving service to its members by developing a grid modernization strategy before "smart grid" was a buzz phrase, Vermont Electric Cooperative (VEC) is the winner of the first POWER Smart Grid Award.
VEC is a member-owned, not-for-profit cooperative founded in 1938 and Vermont's third-largest electric distribution utility. VEC began putting its grid modernization plan together in 2001’well before what would come to be known as smart grid projects were on the radar of even large utilities.

Central Vermont Public Service (NYSE-CV) has signed two new power supply contracts, filling the 2012 gap in its portfolio created by the end of the existing contract with Vermont Yankee, at attractive prices. CVPS also announced preferred and common stock options.
The contracts are for so-called ‘system power,’ meaning they are not conditioned on the operation of individual power generation sources. Because CVPS plans to conduct similar auctions in the future and bidders were unknown to each other, CVPS stated that the names of the winning bidders and full details of the process will remain confidential.
‘These contracts serve to ensure our reliable power supply through the end of 2012 at very competitive prices,’ CVPS President and CEO Larry Reilly said. ‘We were able to secure contracts at firm prices -- where performance is guaranteed such that the sellers would pay to replace any power should they otherwise fail to deliver.’

Senator Patrick Leahy issued a statement regarding today's release of the Draft Report On Nuclear Waste Management of The Blue Ribbon Commission on America’s Nuclear Future. The report follows President Obama's decision to give up on trying to site a single, high-level radioactive waste facility at Yucca Mountain, NV. The federal government is required to build and maintain such a site, but since guaranteeing to nuclear power companies for 50 years that such a site will be built, none has been. Yucca Mountain was the most recent proposal.
REPORT July 29, 2011

Garmont North America has announced the relocation of its North American headquarters to the outdoor and footwear capitol of Portland, Oregon.
Garmont is a global market leader in outdoor and snowsports footwear, known worldwide for pushing the limits of performance and design. Their exceptional product line includes awardQwinning alpine, alpine touring and telemark ski boots; and outdoor footwear for mountaineering, backpacking, hiking and trail sports. The goal of the relocation is to elevate the brand’s profile in the North American outdoor market, and to tap into the strategic benefits of proximity to other brands and retailers in the region.
‘Garmont is a vibrant and healthy company, with an unmatched historical reputation for both performance and innovation,’ said David Fee, president of Garmont. ‘This move will reposition the brand in the North American market, elevating both the company and the product to a new level of success.’

Terry Bicycles raises the stakes with its latest Ride it Forward contest, ‘Win a Bike, Give a Bike’, hosted at www.terrybicycles.com. The contest entrant with the most inspiring story of commitment to a charity will receive a Terry Symmetry bicycle. Additionally, the entrant’s designated charity will receive a Susan B, Terry’s renowned recreational bike, to be used for a silent auction or other fundraising initiative.
Non-profits interested in promoting this contest to their membership should send requests for an electronic brochure [email protected].

Dave Strubler of South Burlington has been named Dean of Champlain College's Division of Business by Champlain President David F. Finney. Strubler joins Champlain with more than 30 years of business, non-profit, higher education management and teaching experience.
He comes to Champlain from Kettering University in Michigan where he served for 16 years in a variety of graduate, corporate, and business education roles. He has worked for large international automotive research and development center and a small business education company, both in southeastern Michigan.
Strubler said his focus at Champlain will be on co-branding with and serving Vermont businesses and non-profits, enhancing professional cross-disciplinary degree options, and extending internship, entrepreneurship, global, and social responsibility opportunities for students.

A US Postal Service proposal to close more than 3,600 post offices and branches, including 14 in Vermont, drew opposition today from the Vermont congressional delegation.
‘Post offices in a rural state like Vermont are not just post offices ‘ they are often the heart and soul of the town ‘ and they must not be closed down,’ Senators Patrick Leahy (D-Vt.) and Bernie Sanders (I-Vt.) and Representative Peter Welch (D-Vt.) said in a letter to Postal Service commissioners.
‘Many of these post offices have been in continuous operation for over 100 years and are an essential part of the fabric of Vermont’s rural landscape,’ the delegation letter added.
The post offices targeted are: Beecher Falls; Cambridgeport (town of Rockingham); East Ryegate; Florence; Gilman; Granville; Highgate Springs; White River Junction, Lyman location; McIndoe Falls (town of Barnet); North Thetford; Rupert; Stockbridge; Websterville (Barre Town) and West Newbury.