Current News
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by Jack HoffmanPublic Assets InstituteThe fiscal 2013 budget adopted by the Vermont House last month would increase state spending by about 6 percent over the current budget year. That may sound like a lot, compared to inflation, say. But Vermontâ s General Fund budget was cut by 6.6 percent in fiscal 20121â so the proposed increase isnâ t enough to make up for lost ground, let alone cover inflation or any increased need for services.
Focusing on a one-year percentage increase highlights an important flaw in Vermontâ s budget process: No one can say whether 6 percent is too much, too little, or just enough, because Montpelier presents Vermonters with no vision of what the budget is meant to achieveâ other than to keep state government running.
The â purpose’section of the Houseâ s Omnibus Appropriations Act for fiscal 2013 states:
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Governor Peter Shumlin was joined today by firefighters, store owners, ski area representatives and others in celebrating the sale of the 25,000th â I Am Vermont Strong’license plate, marking the half-way mark in a campaign to sell enough plates to raise $1 million for the Vermont Disaster Relief Fund. Money from the license plate sales is earmarked for Vermont families impacted by flooding in 2011, as well as the Vermont Foodbank. The Governor reminded Vermonters that the need for assistance following the devastating spring floods and Tropical Storm Irene remains strong.
â I am urging people to continue to support their neighbors who suffered damage to their homes during last yearâ s storms by buying a VTStrong license plate,’Gov. Shumlin said. â These plates reflect the spirit that makes Vermont strong and the funds are critical in helping Vermonters recover from the devastation of the May and August flooding.â
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Three dozen businesses have signed onto a letter asking state and utility leaders to support the Fair Haven Energy Center project. The proposed Energy Center is a 29.5 MW woody biomass power plant that will produce baseload power for 34,000 homes. It would be combined with a pellet production plant that would produce 110,000 tons of wood pellets each year. In addition, plans call for the plant to offer a heat source for a large scale greenhouse or other local food production center.
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The Vermont Department of Banking, Insurance, Securities & Health Care Administration (BISHCA) is now the Vermont Department of Financial Regulation.The change was included in legislation signed yesterday by Governor Shumlin; the new name will reflect the departmentâ s evolving mission.
â Last year Act 48 moved much of BISHCAâ s oversight of health insurance and hospital budgets to the Green Mountain Care Board,’said Commissioner Steve Kimbell. â Our department is more streamlined and more focused on financial oversight, so the new name makes sense.â
The Department of Financial Regulation website will replace the BISHCA site but will continue to be accessible by searching for â BISHCA.â The phone numbers and email addresses of agency employees are unchanged.
â Weâ re going to miss our old name,’Kimbell added. â All of it.â
Source: DFR 4.4.2012
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About.com today announced that Okemo Mountain Resort in Ludlow has been selected as the 2012 About.com Readers' Choice Award winner for Best New England Ski Resort. Now in its fifth year, the About.com Readers' Choice Awards honor the best products, features and services across more than a dozen categories, ranging from technology to hobbies to parenting and more, as selected by its readers.
"This year's Readers' Choice Awards program had a record number of nominations submitted across dozens of categories and featured hundreds of finalists," said Margot Weiss, managing editor, About.com. "We are thankful to all our readers for their participation and congratulate Okemo on their success."
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The International Joint Commission (IJC) is inviting the public to comment on theInternational Missisquoi Bay Study Boardâ s final reporton phosphorus loadings to Missisquoi Bay on Lake Champlain.
In 2008, the Canadian and U.S. federal governments asked the International Joint Commission (IJC) to help them coordinate initiatives in both countries to reduce phosphorus loadings to Missisquoi Bay. The IJC appointed the International Missisquoi Bay Study Board to help it carry out this request. The study identified specific areas in the Vermont portion of the basin where efforts to control phosphorus runoff would be most cost effective.
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Peopleâ s United Bank recently made a donation of $2,000 to New England Youth Theatre to support their â Rock Your Boat’School Tour about bullying.
Stephen Stearns, founder of the New England Youth Theatre, stressed his passionate belief that young people can run their own theatre with the guidance of theatre professionals.
â We strive to create an atmosphere of harmony and respect where students and adults can work together as equal creative spirits, fostering initiative, positive mental attitude, kindness and teamwork.We explore our creativity through a wide variety of dramatic media, exposing students to every aspect of theatre production. From acting to advertising, choreography to lighting, directing to designing, we cut capers on stage as we cut the platform legs that support it!And always, we have fun.
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by Glen A Wright CPA The Vermont Tax Department has recently been in the press for retroactively assessing tax on software companies located in Vermont.
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Dartmouth College announced today the naming of its medical school, founded in 1797, in honor of Audrey and Theodor Geisel. Their generosity to Dartmouth during their lifetimes and through their estate plan renders the Geisel family the most significant philanthropist to Dartmouth in its history. Theodor â Ted’Geisel, known worldwide as the author and illustrator, â Dr Seuss,’was a Dartmouth graduate of the Class of 1925.
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At a press conference today at the Vermont State House, business and labor groups called upon the Vermont Senate to reject a new tax increase recently passed by the Vermont House on Vermont Yankee.
â This is not the time and this is not the economy in which to increase taxes on businesses, especially solely targeting one Vermont employer,’said William Driscoll, Vice President of Associated Industries of Vermont. â Vermontâ s economy and business reputation are struggling in many ways. This tax sets a bad precedent, one that other businesses will have a very watchful eye on,’said Mr. Driscoll.
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by Anne Galloway vtdigger.orgState Senator Randy Brock (Franklin-Grand Isle), the Republican candidate for governor, wants the Shumlin administration to renegotiate a deal it made with Gaz Metro last week on the $21 million for windfall.
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Berkshire Hills Bancorp, Inc will issue its first quarter earnings release after the market closes onTuesday, April 24, 2012.
Berkshirewill conduct a conference call/webcast at10:00 am eastern timeonWednesday, April 25, 2012to discuss the results for the quarter and guidance about expected future results. Participants should dial-in to the call a few minutes before it begins. Information about the conference call follows:
Dial-in:
866-843-0890
Elite Entry Number:
3494596
Webcast:
www.berkshirebank.com (investor relations link)