Current News

US Senator Patrick Leahy (D-VT) chaired a hearing Wednesday morning on a key foreign investor program that has successfully drawn millions of dollars in economic investment to Vermont’s economy. The hearing was held before the U.S. Senate Judiciary Committee, which Leahy chairs, and focused on the reauthorization of the EB-5 Regional Center Program, and its impact on economic development and job creation in communities in Vermont and across the country.
Leahy invited Bill Stenger, the president and co-owner of Vermont’s Jay Peak Resort, to testify at the hearing. Among other important Vermont businesses, both Jay Peak and Sugarbush, two of Vermont’s destination ski resorts, have successfully raised capital through the Regional Center program, and have been engaged in ambitious development projects. Later this week, Stenger will be recognized by the Vermont Chamber of Commerce as the 2011 Citizen of the Year.

Sixty of Vermont’s largest commercial, industrial, municipal, and institutional energy users have joined Efficiency Vermont’s Energy Leadership Challenge, a two-year effort to reduce energy use at participating organizations by 7.5 percent.
The Energy Leadership Challenge is designed not only to reduce current energy use at some of Vermont’s largest facilities, but also for participants to commit to long-term energy planning that will result in further energy and operating cost reductions. Efficiency Vermont provides enhanced resources, both technical and financial, to help participants achieve their energy-reduction goals by June 30, 2013.

During the 2nd quarter of 2011, People’s United Bank announced that they would donate $100, to the Weatherization Assistance Programs (WAPs) offered through the State of Vermont Community Action Agencies (CAAs), for every personal checking account opened from June 7th through August 2nd. People’s United Bank announced today that $33,900 would be spread among the CAAs for use in weatherizing homes throughout Vermont, with $14,600 going to Champlain Valley Office of Economic Opportunity, Inc.

In what must come as a surprise, State Senator Randy Brock (R-Franklin) announced today that he will be a candidate for governor of the state of Vermont in 2012. The announcement of a Republican opponent to first-term Democrat Peter Shumlin had been long coming, but interest in running against the long-serving state senator from Windham County seemed to have dampened following Tropical Storm Irene and the rebuilding effort that followed. One possible opponent, former Lieutenant Governor Brian Dubie, the man whom Shumlin narrowly beat a year ago, was considered a contender, but that is moot now, as Dubie has leant his support to Brock's candidacy.

The US Postal Service announced today that it rescheduled a meeting on the future of a processing plant at White River Junction, Vermont, from December 15 to January 4. The public meeting now is scheduled for 6 pm on Jan 4 at the American Legion in White River Junction.
Sen. Bernie Sanders (I-Vt.) said, ‘I am very appreciative that the Postal Service has rescheduled this very important public meeting and moved the location from New Hampshire to Vermont. To my mind, holding this meeting in the midst of the holiday season in Lebanon, N.H., would have been inconvenient for postal employees as well as other Vermonters interested in this issue.’
Sanders reiterated his opposition to Postal Service plans to slash 100,000 jobs, possibly including the loss of 245 jobs at the White River Junction facility.

The Northeast Kingdom Chamber announced today it has signed a long-term lease to move its office into the Green Mountain Mall. The chamber office will relocate to a prime spot in the center, between Radio Shack and the Union Bank, directly across from the mall entrance of JC Penney.
The move follows the chamber’s departure from the Pomerleau Building, directly above the St. Johnsbury Welcome Center, a location it had occupied since 2003. The Town of St. Johnsbury, owner of the building, indicated to the chamber in September its desire to rent the entire second floor of the structure to a single tenant and take over operations of the welcome center.
The NEK Chamber, established in St. Johnsbury in 1891, has more than 375 business members from throughout the tri-county region known as the Northeast Kingdom. Half of its membership is hospitality related, the remaining 50 percent service-related businesses.

City Sports has announced that it will open a new store in Burlington, Vermont, next summer at the former Borders bookstore location, marking the Boston-based brand's latest retail venture in New England and its first in the Green Mountain state.
Scheduled for a June 2012 opening, the City Sports Burlington store will be located at 35 Church Street, complementing the robust Church Street Marketplace with the retailer's signature offering of athletic footwear, apparel and equipment.
"Being from Boston, we've always regarded Burlington as an epicenter of an active, fitness-oriented lifestyle in New England and a community we've wanted to be a part of for quite some time," said City Sports President and CEO Jeff Connor. "The present opportunity to bring City Sports to Vermont and enhance the unique Church Street culture could not be more perfect, and we look forward to kicking off Summer 2012 with the opening of the Burlington store."

Vermont Public Television (VPT) president John King, along with state and federal officials, gathered at Bennington College’s Center for the Advancement of Public Action on Friday, December 2, 2011 to launch VPT’s two new digital transmitters serving Bennington County.
The new digital channels, 46 Pownal from Mt. Anthony and 30 Manchester from Mt. Equinox, bring new content and greater coverage to the area.

Vermont had the 10th fastest growth in home prices at 1.6 percent, as most of the rest of the nation saw a decline over the last year. CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, has released its October Home Price Index which shows that home prices in the US decreased 1.3 percent on a month-over-month basis, the third consecutive monthly decline. According to the CoreLogic HPI, national home prices, including distressed sales, also declined by 3.9 percent on a year-over-year basis in October 2011 compared to October 2010. This follows a decline of 3.8 percent* in September 2011 compared to September 2010. Excluding distressed sales, year-over-year prices declined by 0.5 percent in October 2011 compared to October 2010 and by 2.1* percent in September 2011 compared to September 2010. Distressed sales include short sales and real estate owned (REO) transactions.

Vermont was again named the healthiest state in the nation as the United Health Foundation today released its 2011 edition of America’s Health Rankings. All six New England states were in the top 10.
Vermont has been among the top five healthiest states for the past eight years, climbing steadily from 20th in 1990 to 12th in 2000, to become first in 2007, 2009 and 2010. See Chart below for all states.
This year, Vermont ranked among the top 10 healthiest states in 15 of 23 public health measures relating to behaviors, community and environment, health policies, clinical care, and health outcomes.
‘Public health is what we all do together to assure the conditions in which people can be their healthiest,’ said Health Commissioner Harry Chen, MD. ‘Compared to other states, Vermonters are faring well. But not all of us are as healthy as we can be ‘ especially those who are younger, have less education and lower incomes.’

US Senator Patrick Leahy (D-VT) will chair a hearing on Wednesday, December 7, on a key foreign investor program that has successfully drawn millions of dollars in economic investment to Vermont’s economy. Leahy chairs the Senate Judiciary Committee, which will hold a hearing on the reauthorization of the EB-5 Regional Center Program, and its impact on economic development and job creation in communities in Vermont and across the country.

AM Best Co has affirmed its A (Excellent) financial strength ratings for National Life Insurance Company and Life Insurance Company of the Southwest, the two insurance companies of National Life Group.
In addition, the rating firm upgraded the issuer credit ratings for the two companies from ‘a’ to ‘a+.’
The two ratings evaluate different aspects of a financial services company. The traditional financial strength rating is designed to provide an opinion of a company’s ability to meet its policyholder obligations. The insurer credit rating is an opinion of the company’s ability to meet its senior obligations.
‘Taken together these two ratings send a clear message of our financial strength,’ said Mehran Assadi, president and CEO of National Life Group. ‘I am especially pleased by A.M. Best’s upgrade of our insurer credit ratings.’