Current News

People's United Financial, Inc. (NASDAQ: PBCT) today announced net income of $51.2 million, or $0.15 per share, for the second quarter of 2011, compared to $16.0 million, or $0.04 per share, for the second quarter of 2010, and $51.7 million, or $0.15per share, for the first quarter of 2011. Operating earnings totaled $57.3 million for the second quarter of 2011, compared to $31.8 million for the second quarter of 2010 and $53.8 million for this year's first quarter. As previously reported, People's United Financial completed its acquisition of Danvers Bancorp, Inc. on June 30, 2011, effective July 1, 2011. Accordingly, People's United Financial's second quarter and six month results do not include the results of Danvers.

Vermont Law School has lifted its ban on military recruiters on campus in anticipation of the official repeal of the ‘don’t ask, don’t tell’ law in late September.
VLS, which denied access to military recruiters for more than 25 years because ‘don’t ask, don’t tell’ conflicts with the school’s nondiscrimination policy, notified the U.S. Department of Defense on Tuesday, July 19, that its recruiters are welcome back on campus effective immediately.
VLS is one of only two law schools in the nation that prohibit military recruiters on campus because of the "don't ask, don't tell" law, which prevents gay men and lesbians from serving openly in the military’and VLS is the only law school that foregoes some federal funds because of its stance on "don't ask, don't tell."

The Federal Emergency Management Agency is opening a disaster recovery center in Saint Johnsbury to assist individuals, households and businesses that were affected by the storms and flooding this spring in central and northeastern Vermont.
The Saint Johnsbury center opens officially at noon on Monday, July 25 and will be staffed with disaster recovery specialists from various federal, state and local agencies and organizations who can provide information and answer questions about storm-related assistance.
"The storms that struck Caledonia and Washington Counties on May 26 and 27 were very destructive," said FEMA's federal coordinating officer Craig Gilbert. "While we have registered nearly 400 individuals for assistance, we hope those who have been affected and have not registered yet, will do so."

All 399 remaining Borders' bookstores will be closing starting this Friday after the company failed to find a buyer or any other alternative to liquidation. There are two stores in Vermont: one on Church Street in Burlington and one in the University Mall in South Burlington; there is also a Borders across the Connecticut river in West Lebanon and one in Keene, New Hampshire. All will close in the coming months.
According to a letter from the CEO of the company, Mike Edwards, Borders will honor all gift cards throughout the liquidation process. Members will also continue to receive their Borders Rewards Plus benefits and Borders Bucks will remain valid until they expire on July 31.

Source: Borders, 5-22-2011

Gifford Medical Center will offer a new Healthier Living Workshop series beginning August 18 and continuing Thursdays through September 22 from 10 am to 12:30 pm in the Randolph hospital’s Conference Center.
Offered for free as part of the Vermont Blueprint for Health, Healthier Living Workshops are self-help groups, with trained facilitators, designed to help individuals with chronic conditions and their caregivers manage their diseases and improve their health.
The workshops are for anyone living with arthritis, asthma, heart disease, diabetes, emphysema, fibromyalgia, multiple sclerosis or another chronic condition. The six-week classes were created to add vitality to participants’ lives and provide tools to better deal with frustration, fatigue and pain.They also help to improve upon strength, flexibility and endurance as well as provide tips for managing medications, eating healthier and bettering communications with family, friends and health care providers.

Governor Peter Shumlin today announced that Vermont will receive $2 million from the federal Environmental Protection Agency (EPA) to help advance the redevelopment of brownfields in Vermont.
Joined by EPA Region One Administrator Curt Spalding, Shumlin made the announcement at a brownfield site in Algiers (located within the town of Guilford) that is slated for remediation.
‘The State and the regional planning commissions have done a great job of getting our funding for brownfield redevelopment out to Vermont communities,’ the governor said. ‘Redevelopment of these sites has led to the creation of jobs, new housing and more green space.’
The Windham Regional Commission will receive $1 million to capitalize a revolving loan fund for brownfield clean-up activities, as well as $400,000 for brownfield assessment work. The Vermont Agency of Commerce & Community Development will receive $600,000 to enhance its revolving loan fund.

The Vermont Department of Labor announced today the seasonally-adjusted statewide unemployment rate for June 2011 followed the national trend and increased by one-tenth of a percent to 5.5 percent. This reflects the second month in a row that Vermont experienced one-tenth of one percentage point increase in the statewide rate. Compared to a year ago (June 2010), the statewide unemployment rate is down by 0.7 percent and is still well below the national level of 9.2 percent.
According to Labor’s data, seasonally-adjusted job growth showed a gain of 2,700 jobs, including those in leisure and hospitality (+900), education and health care (+800) and construction (+600) leading the growth. However, the household survey data indicates a decline in total employment and labor force, and an increase in unemployment (+400).

The Vermont Agency of Agriculture, Food and Markets (VAAFM) is now accepting applications for the new Meat Processing Capacity Expansion Grant Program. This program was created by the Vermont Legislature to provide matching grants for capital investments that will result in increased capacity at meat and poultry slaughter and processing facilities in Vermont.
The goals of the Program are to support meat and poultry processors and producers, create jobs, and enhance Vermont’s livestock industry. In order to qualify for funding consideration a business must: be primarily involved in the processing of meat or poultry products; be providing services to more than five farm businesses; be located (preferably headquartered) in Vermont; and be licensed for either commercial or custom use. To be eligible for funding, the participant must be in good standing with the Agency of Agriculture regarding regulatory requirements and resulting penalties.

The Vermont Agency of Agriculture, Food and Markets (VAAFM) is now accepting applications for the new Good Agricultural Practices (GAPs) Capital Improvement Grant Program. This program was created by the Vermont Legislature to provide matching grants for capital investments that will support Vermont agricultural producers in obtaining GAP certification.

Berkshire Hills Bancorp, Inc. (NASDAQ: BHLB) has completed the acquisition of Legacy Bancorp, Inc., and Berkshire Bank has completed the merger of Legacy Banks, effective today. Berkshire Hills now has over $4 billion in assets and more than 60 branches serving Massachusetts, New York, and Vermont. Berkshire Hills has increased its outstanding common stock to approximately 21 million shares with a market capitalization of more than $480 million, based on recent trading prices.
"This acquisition results in improved market share and an expanded footprint in our attractive northeastern markets," stated Berkshire Hills President and CEO, Michael P. Daly. "It contributes to our strong momentum in revenue and earnings growth. This partnership enhances our resources to support the needs of our regions and to provide exceptional locally based service. We are very pleased to welcome the customers, employees, and shareholders of Legacy to America's Most Exciting Bank(SM)."

IBM (NYSE: IBM) and Silanis Technology today announced that the State of Vermont is using cloud computing to transform its business operations to improve efficiencies, boost profits and more cost effectively collaborate with vendors.
In keeping with its cost cutting initiative, the State of Vermont is lowering costs, reducing paper consumption and increasing efficiency in its Department of Information and Innovation (DII). The DII is transforming the way it processes vendor contracts with IBM cloud services and Silanis' electronic signature technology.

Vermont Insulated Concrete Forms has consolidated its operation to one location, 1920 Waterbury Stowe Road in Waterbury. The consolidation of administrative and warehouse operations to one location will enable VTICF to move toward the goal of offering their customers an improved walk in retail experience. Vermont Insulated Concrete Forms is the regional distributor of the AMVIC Building System and ICF construction supplies.
Since 1999 VTICF and President Joel Baker has been leading the transition from traditional building methods to more sustainable, efficient and durable construction.