Current News

Draker Laboratories, the industry's leading independent provider ofturnkey monitoring and asset management solutionsfor commercial and utility-scale solar photovoltaic (PV) projects, today announced it is entering the Japanese market through a strategic partnership with EKO Instruments Co., Ltd. of Tokyo, Japan. This partnership is an important step in Draker’s ability to serve customers in key solar PV markets around the globe. In 2011, the Japanese solar PV market was the 6th largest in the world, and is expected to grow larger as its solar feed-in-tariff (FIT) program is introduced in July of this year as part of the country’s renewable energy strategy.

Newman's Own Foundation recently announced that Vermont Adaptive Ski and Sportsis one of the nine nonprofit finalists in the third annual Newman's Own Foundation Campus Community Service Challenge. The selected nonprofits, nominated by and paired with a student group from each of the America East's nine member universities, are eligible to receive the Challenge's top grant of $25,000. In total, $80,000 will be awarded to nominated nonprofits.
"The Campus Community Service Challenge represents an opportunity for us to encourage the practice of philanthropy," said Bob Forrester, president and CEO of Newman's Own Foundation. "We are proud to support the work of these exemplary students with their community partners and to recognize their commitment to make the world a better place."

An upslope snowstorm whirled throughBolton Valleythis past weekend, beginning on Friday and not letting up until late Saturday night but not before dropping two feet of new snow on the ski area’s 70 trails. The first big snowstorm of the season provided fresh tracks and powdery tree skiing on Sunday and has laid the groundwork for mid-winter conditions for skiers and riders right into March.

‘This storm was long overdue for sure,’ said Josh Arneson, director of sales and marketing at Bolton. ‘We had a very strong Presidents’ Holiday Week. Having this storm on the back end was icing on the cake and a great way to lead into Vermont’s vacation week. We’re offering powder and packed powder conditions. For those who thought winter was over, think again. Even if it has left the valleys, it’s alive and well in the mountains.’

Vermont might now be the world's largest domicile for thecaptive insurance industry. Since the beginning of 2012, Vermont has already licensed five captives, with more applications in process.
Recent trade press has published that our gross written premium volume is projected to have outpaced Bermuda making Vermont the largest domicile in the world in terms of premium volume.For the 6th year in 2011, Vermont surpassed the 40 new captives licensed mark with 41 new captive insurance companies bringing the total number of licenses to 952, according to data released by the Vermont Banking, Insurance, Securities and Health Care Administration (BISHCA).
Thirty were single parent captives, with six risk retention groups (RRG), three sponsored, one industrial insured, and one association. 2011’s new captive insurance licensees brings Vermont overall total to 952 with 590 active captive insurance companies.

Secretary of State Jim Condos is pleased to announce a pilot program to provide unofficial election night results for the 2012 election cycle. The results will be posted as they are received from towns on the following website:http://vtelectionresults.com
‘When fully implemented, this will provide more accurate and up to date election night results to Vermont’s public, the media, and candidates,’ said Secretary Condos.

People's United Financial, Inc (Nasdaq: PBCT), the holding company for People's United Bank, announced today a definitive agreement by which People's United Bank will acquire 56 branches from Citizens Financial Group, Inc. and assume$325 millionin deposits associated with these branches. Fifty-two of the branches are situated in Stop & Shop supermarkets and four are traditional branches. All of the branches are located in the state ofNew York, with 29 onLong Island, eight inWestchester Countyand six in the boroughs ofNew York City, all areas of key focus for People's United. People's United, which currently operates 87 Stop & Shop branch locations inConnecticut, will pay Citizens a 1% premium on the assumed deposits.

The Vermont Economic Development Authority (VEDA) has approved business and agricultural financings totaling $11 million, helping stimulate $25 million in economic development activity throughout the state, including Appalachian Engineered Flooring in North Troy ($1.2 million); Northeast Kingdom Human Services in Derby ($3.9 millioin); and theFranklin County Industrial Development Corporation for Peerless Clothing International, Inc, in St. Albans ($4 million). In addition, there was $960,000 for farmers through the Vermont Agricultural Credit Corporation; $204,000 forVEDA'sSmall Business Loan Program; and$433,737 from the Drinking Water State Revolving Loan Fund, upgrading privately-owned drinking water systems.
Recent financing approvals:

Famous for his deadpan television commercials, the Vermont Lottery Commission has announced that longtime Executive Director Alan Yandow would not seek another biannual appointment to theposition. After nearly 14 years as Executive Director, and working with threegovernors, Yandow will leave state service.
Yandow said, ‘I step down from one of the most interesting positions in state government. It hasbeen an honor and pleasure to serve the State of Vermont and lottery players over the lastfourteen years’.
Governor Peter Shumlin stated, ‘I am grateful to Alan Yandow for his 14 years of service toVermont. As all profits from the state lottery go to the Education Fund, an efficient and effectivestate lottery provides crucial resources for educating Vermont’s students, and I thank Alan forhis dedication over those many years’.

Vermont Information Technology Leaders, Inc. (VITL) has exceeded its target for signing up Vermont primary care practitioners to receive assistance with implementing electronic health records (EHR) systems. More than 85 percent of Vermont’s primary care providers are now working with VITL to either install an EHR or to use their existing system to further improve patient care.
VITL is an independent non-profit organization that assists Vermont health care providers with health information technology. VITL has been designated by the U.S. Department of Health and Human Services as a regional extension center for health information technology, the only such center serving Vermont. VITL receives federal and state funding to assist Vermont primary care providers with EHRs.

One Studio of Waterbury is now a non-profit calledGreen Mountain Performing Arts
(February 24, 2012) ‘ One Studio Dance of Waterbury has finalized its conversion to a 501c (3) non profit with the new name Green Mountain Performing Arts. The move, which was under consideration for over a year, was made more necessary following the devastating floods that rocked the town of Waterbury in the wake of Hurricane Irene.
The studio, which was located in a building in an area hard-hit by the floods, was completely unusable. Studio owner Laurie Flaherty was not sure the business would be able to survive the impact. But the community of Waterbury came together to ensure the studio’s 300+ students would not be without the opportunity to dance. Classes were rescheduled for spaces throughout the town, talk of the non profit began to take shape, several major funders came forward, a new space was located and soon, Green Mountain Performing Arts began to take shape.

by Alan Panebaker vtdigger.orgThe state plans to eliminate the positions of 80 Vermont State Hospital workers in mid-April. The reduction in force is the largest layoff since the beginning of the Great Recession when the Douglas administration and the Vermont Legislature reduced state government by 660 workers, or roughly 10 percent.
The Shumlin administration says the large number of layoffs now under way is necessary six months after the closure of the state hospital in Waterbury when floodwaters from Tropical Storm Irene swept through the facility on Aug. 28.
Since then, Vermont State Hospital workers have been scattered across the state in private facilities, including the Brattleboro Retreat and Rutland Regional Medical Center.
This week, about 120 workers will receive reduction-in-force notices; in all about 240 employees, including a number of temporary workers were part of the Vermont State Hospital staff.

President and CEO Mary Burns announced NorthCountry Federal Credit Union as the Greater Burlington YMCA’s lead Community Partner for 2012. NorthCountry’s financial support of $100,000 will help underwrite early education programs, after school programs, and special events throughout the calendar year. President Burns made the announcement February 9 while addressing nearly 100 volunteers assembled at the 2012 ‘Y FOR ALL’ Annual Campaign Kick-Off.
In her prepared remarks, Burns said, ‘I am excited to welcome NorthCountry Federal Credit Union into the Y family. This is a relationship I know will benefit the Y and NorthCountry because our values are so closely linked. Community and service brought us together and the community at large will be the direct beneficiary of our partnership.’