Current News

The Vermont Department of Banking, Insurance, Securities and Health Care Administration (BISHCA) announced today that Susan Donegan will be joining the Department as Deputy Commissioner of Insurance on February 14.
Donegan comes to BISHCA from the Massachusetts Insurance Division, where she served as Counsel to the Commissioner and Hearing Officer. Donegan holds legal degrees from Vermont Law School, Boston University School of Law and the University Van Amsterdam in the Netherlands.
During her distinguished legal career, Ms. Donegan has worked extensively with the insurance, securities and financial sectors, and brings years of industry experience to her position at BISHCA. Donegan is also an authority on information technology and privacy law, is a member of the American Arbitration Association, and gives of her time and legal expertise by providing pro bono legal services to several non-profit organizations.

In an open letter to Governor Shumlin, leading organizations representing industry, labor, and energy stakeholders today expressed concern about the closing window of opportunity to allow the Public Service Board to complete its docket on Vermont Yankee's continued operation beyond 2012, and the serious economic consequences for Vermont if the plant is not allowed to operate under a renewed license.
Absent realistic and viable alternatives for more affordable and reliable power, Associated Industries of Vermont, the International Brotherhood of Electrical Workers, and the Vermont Energy Partnership urged Governor Shumlin to work with the Legislature and allow the Public Service Board to complete its outstanding docket on relicensing and determine whether continued operation of Vermont Yankee is it the best interest of the state.
The text of the open letter follows:
An Open Letter to Governor Shumlin
February 3, 2011
Dear Governor Shumlin:

The Vermont office of the US Small Business Administration has issued lending results for the period ending January 31, 2011. Total loan volume was $32,837,900. People's United issued the most SBA guaranteed loans at 31 loans and had the greatest total value at $8,142,400. Community National Bank was second with 17 loans valued at $4,592,300.

SBA, MONTPELIER, VERMONT DO #0150
January 1, 2011 --January 31, 2011

LOAN VOLUME BY BANK BY NUMBER OF APPROVALS

#
$$

Community National Bank
3
825,000

Greenfield Savings Bank
2
120,000

A pilot loan program aimed at increasing access to inventory financing for auto, boat, RV and other dealerships will be re-launched Tuesday (2/8) and will be effective through Sept. 30, 2013, the U.S. Small Business Administration announced today.
The Small Business Jobs Act of 2010 included a provision for re-launching SBA’s Dealer Floor Plan (DFP) Pilot Loan program, which first became available in July 2009. The pilot is part of the SBA’s overall 7(a) loan guarantee program. The Jobs Act also increased the maximum size for 7(a) loans to $5 million, up from $2 million, which includes loans made through the DFP pilot program.

The Kingdom Community Wind technical hearings began at the Vermont Public Service Board Thursday. Over the course of the next few weeks, approximately 50 witnesses will be questioned by parties to the case and by Public Service Board members. The Lowell project would be Vermont's largest wind energy development. Up to 21 towers will be constructed, with a capacity of up to 63 megawatts. The project will generate enough electricity to serve 20,000 Vermont homes. All the electricity will be sold to customers of Green Mountain Power and members of Vermont Electric Coop.
VPR's series on Vermont's Wind Energy Future

From a transitional housing program for the homeless in St. Albans and a summer concert series in Barre, to a women’s film festival in Brattleboro and a youth mentoring program in Rutland, KeyBank provided grants and sponsorships totaling $300,000 to 130 Vermont organizations in 2010.
Funds from the KeyBank Foundation supported programs helping Vermonters achieve economic self-sufficiency, including a job skills program offered by Milton Family Community Center, a computer literacy program for non-native English speakers at Burlington’s Fletcher Free Library, and a literacy volunteer training program at Central Vermont Adult Basic Education.
KeyBank also sponsored community events such as the KeyBank Vermont City Marathon, Key4Women Forum, Vermont Maple Festival, Vermont History Expo and Strolling of the Heifers.

Entergy Vermont Yankee’s charitable contributions committee agreed to funding requests from more than 100 local non-profit organizations in 2010. The funding, which totaled more than 300,000 dollars, helped fund everything from senior meals and music lessons to library upgrades and fire department equipment.

While much attention has been given to the need for consumers to pay down debt and build up savings, residents in all states still carry an average of more than $10,000 in debt, according to a recent analysis of consumer debt by CareOne Services Inc., one of the nation's leading debt relief firms. Vermont ranked fourth lowest with $13,709 and five creditors. Residents of California had the least amount of debt, with an average of $12,800 and five creditors. Residents of Delaware, Rhode Island, Maine and Alaska carried the most debt.

Nurture Vermont’s entrepreneurial spirit: join entrepreneurs, policymakers, business leaders, educators and students in celebration of National Entrepreneurship Week at the Vermont State House on Tuesday, February 8th.
Career and Technical student organizations’ student leaders involved in DECA (an organization preparing students for marketing, hospitality and management), FBLA (Future Business Leaders of America), FFA (Future Farmers of America), and Skills USA (a partnership of students, teachers and industry working together to ensure America has a skilled work force) will inform legislators and the public about their programs during the morning in the state house cafeteria.

Heavy on food and agriculture, Vermont Governor Peter Shumlin and key lawmakers, appearing at Vermont Butter and Cheese Company, today unveiled a comprehensive package of proposals to promote manufacturing, job training, veterans’ employment, value-added agriculture jobs and more to jumpstart Vermont’s economy.
‘This is one of the most thorough, broad-reaching proposals to create and support good-paying jobs in Vermont that has been proposed in recent memory,’ Governor Shumlin said. ‘Any one of these proposals would be a step in the right direction toward getting Vermont’s back to work. Taken as a package, this Jobs Bill will stimulate every sector of Vermont’s economy.’
The Governor said it was vital that the Agency of Commerce and Community Development partner with the Agriculture Agency and the Department of Public Service and other state agencies and partners to promote everything from marketing to new workforce training.

A unanimous vote by the Senate Judiciary Committee Thursday sent comprehensive patent reform legislation to the full Senate for the third time since 2008. The Patent Reform Act is authored by Senators Patrick Leahy (D-Vt.), Orrin Hatch (R-Utah), and Chuck Grassley (R-Iowa).
Congressional efforts to reform the nation’s patent system first began in 2005. The legislation approved by the Judiciary Committee Thursday is the product of years of work and compromise. Enactment of the Patent Reform Act of 2011 will make the first significant changes to the patent system in nearly 60 years, and will create and protect American jobs without adding to the nation’s deficit.

Vermont Attorney General William H. Sorrell announced today that his office recently settled a claim against Manchester-area landlords Donald Dorr, Patricia Dorr and Transtar LLC for failing to maintain 29 residential rental properties in accordance with the Vermont lead law. As a part of the settlement, the Dorrs and Transtar agreed to civil penalties and improvements at the properties totaling $50,000.00 and will bring the properties into compliance with the lead law.
For the past two years, the Attorney General’s Office has mailed letters to landlords around the state requesting lead law compliance information on rental properties built prior to 1978. Landlords have been given 90 days to show that they are in compliance with the law or to take steps to bring the properties into compliance.