Current News

Fidelity Bank and People's United Bank, a subsidiary of People's United Financial, Inc, announced today a definitive agreement by which Fidelity Bank will acquire certain deposits and the branch office of the People's United Bank location at 75 Main Street,Leominster, MA. Completion of the transaction is anticipated mid-year of 2012 and is subject to customary closing conditions, including the receipt of regulatory approvals. Fidelity Bank has agreed that all employees at the acquired People's United Bank branch will be offered comparable positions at Fidelity Bank.

The state of Vermont is calliing into question a national review of state business development tax incentives. Vermont, according to a report released Wednesday by the Pew Center on the States, is one of several states that is not looking hard enough at the results of tax incentives used for economic development. Vermont is among half the states "trailing behind" in its review of these incentive policies. However, that study did not include Vermont's principal incentive program.
The Vermont Agency of Commerce issued a statement Friday saying that while it appreciates the work done by the Pew Center for the States, including their recently released report, â Evidence Counts,’an evaluation of State tax incentives for jobs and growth, it is missing a key element in its evaluation of Vermont.

The Northeast Kingdom Chamber of Commerce is pleased to announce the selection of Robert Swartz as the 2012 Citizen of the Year.Swartzreceived the honor for his extensive service to area cultural, health and educational organizations, especially his many years dedicated to Catamount Arts and the Northeastern Vermont Area Health Education Center.
The awards banquet being held on Friday, May 4, 2012, at the Academic Student Activities Center, Lyndon State College, Lyndon Center, VT (directions). The ticket price is $34 per person. The social gathering will start at 6 pm with buffet dinner to follow at 7 pm.
To attend, complete the attached reservation formand mail to NEK Chamber, 2000 Memorial Drive, Ste. 11, St. Johnsbury, VT 05819 or fax to 802-748-0731. RSVP by April 27 at 802-748-3678 or [email protected].

According to analysis of the MLS (Multiple Listing Service), real estate sales in Vermont increased by slightly over 10 percent in the first quarter of 2012. Compared to last year, MLS data for 2012 shows 955 sales while the first quarter of 2011 saw total sales of 867. This increase can be attributed to increased buyer confidence that the housing market is starting to return to equilibrium after 2008â s â Great Recession.â
â While we still arenâ t seeing the same level of confidence that we did in 2006 or 2007, it is greater now than at any point during the prior four years,’said Rob Foley, owner of Flat Fee Real Estate in Burlington. MLS data shows that Chittenden County experienced an increase from 224 sales in the first quarter of 2011 to 243 sales in the first quarter of 2012, and the median home price increased by $1,000.

The engineer behind the building of the new Champlain Bridge, connecting Vermont with New York, has won his industry's highest award. Theodore (Ted) P Zoli, PE, national bridge chief engineer for HNTB Corporation, has received the construction industry's most prestigious honor:Engineering News-Record'sAward of Excellence for 2012. The award was presentedApril 12, 2012, atENR'sannual black-tie gala inNew York City. More than 1,500 guests attended the event.
ENRselected Zoli from a list of what the magazine dubbed the Top 25 Newsmakers of 2011. He will be featured in a cover story in theApril 16issue.

byJohn McClaughryWhile the rest of America steels itself for the onset of Obamacare ‘or hopes the Supreme Court puts a stop to it ‘little deep blue Vermont is well on its way toward installing its own Canadian-style single-payer health-care system.
â Single payer’refers to a universal taxpayer-financed government-managed health-care system that replaces private health insurance. Under Green Mountain Care, the emerging Vermont version, a newly-appointed government board will ensure that by 2017 all covered Vermonters will receive â affordable and appropriate health care at the appropriate time in the appropriate setting.â

The teachers and boards of the Rutland Southwest Supervisory Union have reached a tentative agreement on a multi-year contract, bringing a six-day strike to a close.
The deal came after almost 12 hours of talks with a federal mediator Wednesday, and represents the first time the sides have come to a contract accord in more than 645 days.
â It was clear that both sides really wanted to do the hard work necessary to reach a settlement that is fair to us, fair to our fellow taxpayers and good for our schools and students,’said Kaitlin Cioffi, a Poultney High School biology teacher and the spokeswoman for teachers in the Poultney Teachers Association, the Rutland Southwest Education Association and the Middletown Springs Education Association. â We have missed our classrooms, and look forward to getting to work doing what we love: teaching our students.â

by Alan Panebaker vtdigger.orgThe Vermont Yankee nuclear power plant was on its way back to full capacity Thursday morning after operating at about a third power for much of the week.
Larry Smith, a spokesman for Vermont Yankee, said the plant was at 86 percent as of Thursday morning and on its way back to full power.
Smith said technicians went into the plantâ s condenser Tuesday night to fix five tube leaks in the number four water box. The condenser turns the steam used to turn the plantâ s turbines back into water. Smith said the issue with the condenser does not affect the plantâ s safety.
â The condenser is on the non-nuclear side of the plant, so itâ s not safety related,’he said.
Photo: Larry Smith /VTD
Smith said there are around 22,000 tubes in the condenser. He said minor leaks in a few tubes is not uncommon for a steam condenser plant like Vermont Yankee.

Vermont Public Radio has been honored with seven regional Edward R Murrow Awards from theRadio Television Digital News Association (RTDNA). VPR received awards in the following categories: news series, breaking news coverage, sports, documentary, use of sound, newscast, and writing.
"These awards truly represent a team effort, particularly the coverage of Tropical Storm Irene,’said John Van Hoesen, VPRâ s vice president for news and programming. "As a public broadcaster, we are accountable to the community we serve. We are honored to receive these awards because they go to the heart of VPRâ s mission to provide an essential and trusted independent voice for news and information in our region.â
The winning coverage includes:
UVM At A Crossroads(News Series)
A collection of news pieces in the days following Tropical Storm Irene(Breaking News)
A profile of the pitcher from Stowe who inspired the Bruce Springsteen Hit â Glory Daysâ (Sports)

by Lisa VentrissOn behalf of the membership of the Vermont Business Roundtable, I am expressing support for the merger of Green Mountain Power and Central Vermont Public Service, as well as for the process underway by the Public Service Board to solely deliberate the merits of this merger on behalf of all Vermont citizens.
The Roundtable endorses the long view on investment and multi-generational benefits that could accrue to all ratepayers with the successful merger of GMP and CVPS. These include savings that would be reflected in lower energy bills; job creation as a result of keeping electric rates as low as possible and Vermont competitive with our neighbor states; and investments in efficiency and weatherization measures that yield cost savings and other benefits for individuals, communities and society.

Fletcher Allen Health Care is in the the top 10 percent of integrated health care networks in the United States according to a quality survey conducted by IMS Health, a Connecticut- based healthcare data research firm. Fletcher Allen is one of only three hospital systems in New England and one of ten in the northeast to make the list.
â Weâ re proud of this national recognition of Fletcher Allenâ s efforts to deliver the highest quality care in the right place and at the right time with the greatest efficiency,’said John R. Brumsted, MD, president and CEO of Fletcher Allen. â Going forward weâ re committed to building on the progress weâ ve made in strengthening the integrated delivery system in our region,’he added.

Overall government tax collections for states increased $62.1 billion to $763.7 billion in fiscal year 2011, the US Census Bureau reported today. For overall tax collections, Vermont ranked 46th at$2,688 million, New Hampshire ranked 48th at $2,320 million, which was lowest in New England. See table below for complete list.
For the US, corporate net income tax revenue was at $40.2 billion, up 9.4 percent, while tax revenue on individual income was at $259.1 billion, up 9.8 percent. General sales tax revenue was at $240.9 billion, up 8.2 percent. Corporate net income tax revenue, individual income tax revenue and general sales tax revenue comprised 70.7 percent of all state government tax collections nationally.