Current News

The Executive Board of the American Parkinson’s Disease Association (Vermont Chapter) will officially recognize Jim’s House, Inc., with a grant from the Pharmaceutical Research and Manufacturers of America (PhRMA) in the amount of $2,000. The APDA Vermont Chapter will match PhRMA’s grant for a total of $4,000.
Jim’s House was founded and named after Jim Crevier who was diagnosed with Lou Gehrig’s Disease (ALS) in 1997 and died in 2001. The house has been made available for people with Neurological Diseases and their care providers coming to Fletcher Allen Health Care from such a distance to require an overnight stay.

The Vermont Sustainable Jobs Fund (VSJF) today announced the launch of the VSJF Flexible Capital Fund, L3C. The fund is the first business-lending program in Vermont focused on royalty financing for growth stage businesses ‘ and one of only two such investment-lending programs of its scale in New England.
Using investment tools such as royalty financing and subordinated debt, the VSJF Flexible Capital Fund (Flex Fund) provides small businesses in Vermont with access to the flexible risk capital they need to grow - without having to give up their ownership stake in the company.
The Flex Fund is also unique in that it is specifically targeted to support Vermont companies in value-added agricultural, forest products, and clean technology sectors.

More Vermonters will be able to purchase homes using Vermont Housing Finance Agency's low-interest mortgages thanks to new income and purchase price limits put in place last Friday.
"VHFA is always working hard to respond to Vermont's housing market, which can be a moving target," explained Executive Director Sarah Carpenter. ‘The new limits mean more Vermonters and Vermont properties have become eligible for VHFA financing, which we hope will help encourage first-time buyers who realize that now may be a great time to buy."
Income and purchase price limits vary by county and help determine which homebuyers and properties are eligible for VHFA financing. Income limits are ceilings on what households can earn and still qualify for VHFA mortgages; purchase price limits are the maximum price a home can sell for and still be eligible for VHFA financing.

Vermont is the most successful of U. domiciles in the captive industry, licensing over 900 captive companies in its 30 years. Just as Vermont officials are touting the industry milestones with a 30th anniversary celebration, Vermont captive insurance law firm, Paul Frank + Collins’ lawyers are reflecting on their contributions to the industry and their future role.
From the inception of the captive industry in Vermont in 1981, PF+C has been engaged with the legislative process for the captive insurance laws and has been actively involved with the Vermont Captive Insurance Association (VCIA) and the Vermont Insurance Department to create and maintain a firm foundation for the industry. From suggesting conceptual changes to the law to drafting specific statutes, PF+C’s team of seasoned and responsive attorneys led by Alan Port have participated with other captive insurance stakeholders continuously to hone the captive statutory framework.

A Vermont specialty food company will receive a $550,000 grant from the state to expand its operation and create new jobs, Gov. Peter Shumlin announced today.
Vermont Smoke and Cure was one of seven Vermont Community Development Program grants totaling $2,165,700 announced at an awards ceremony Tuesday in Hinesburg. Awarded to the Town of Hinesburg and loaned to Vermont Smoke and Cure, the funding will allow the company to relocate to Hinesburg and occupy the former Saputo Cheese Plant. The total cost of the expansion is $5 million and includes the creation of 13 new jobs. The move will allow for increased capacity and triple the size of the company’s current facility.

The Goddard College Board of Trustees today announced the election of seven new members: Marty Baumrind of Brooklyn, NY; Wayne Fawbush of New York, New York and Montpelier, VT; David Hales of Bar Harbor, ME; Liam Murphy of Burlington, VT; Avram Patt of Marshfield, VT; Hillary Web of Eliot, ME and Laurie Zivetz of Chevy Chase, MD.
‘The breadth of knowledge and experience that these individuals bring to Goddard College are tremendous gifts,’ said Goddard President Dr. Barbara Vacarr. ‘Their guidance and stewardship of Goddard will help usher the college into the future as it reclaims its prominence as the leader in experimental and radical education.’

Green Mountain College received the Second Nature Climate Leadership Award June 23 at the fifth annual Climate Leadership Summit of the American College & University Presidents' Climate Commitment (ACUPCC) in Washington, D.C.
Green Mountain College received the award for achieving climate neutrality this year. GMC, a 700-student liberal arts college in Vermont, is only the second college in the nation to reach this goal, and the first to do it through efficiency, adoption of clean energy, and purchase of quantifiable local carbon offsets. The College won the award in the baccalaureate college category.
President Paul Fonteyn and Provost William Throop received the award for Green Mountain at an awards ceremony held at George Washington University on Thursday.

Plasan, a global leader in the mass production of composite materials for defense and automotive clients with two plants in Bennington, today announced the acquisition of KaZaK Composites, a Massachusetts-based engineering design and manufacturing company specializing in pultrusion processing. The deal is not expected to effect employment at either company.
KaZaK Composites is a premier provider of value-added composite engineering. KaZaK specializes in high performance composite structures and low-cost automated composite manufacturing. From design and analysis through prototyping and manufacturing, KaZaK's technology offers a variety of applications in ship structures, building structures, space systems and numerous commercial applications.

People's United Financial, Inc. (NASDAQ: PBCT) today announced the merger consideration to be received by Danvers shareholders in People's United's acquisition of Danvers Bancorp, Inc.
People's United and Danvers Bancorp also today announced that their proposed merger was approved by the Office of the Massachusetts Commissioner of Banks and the MassachusettsBoard of Bank Incorporation on June 27, 2011. The transaction was previously approved by Danvers Bancorp shareholders on May 13 and by the Office of Thrift Supervision on May 16. The closing of the merger is expected to occur on June 30, 2011.
Based on final election results and applying the proration provisions set forth in the merger agreement, Danvers shareholders will receive the following merger consideration:

Danvers shareholders will receive 1.624 shares of People's United common stock for each Danvers share for which they made a valid stock election;

Secretary of State Jim Condos announces updated fee structures for licenses in four of the 45 professions the Office of Professional Regulation (OPR) oversees. Each year, OPR reviews the costs of each program and adjusts its fees accordingly.
Licensing fees for Nursing Home Administrators and the Psychologists will see significant reductions. Chris Winters is the Director of the Office of Professional Regulation, the division of the Secretary of State’s office supporting the regulatory programs for 45 professions and 55,000 licensees. According to Winters, ‘If our budget analysis reveals that our revenue from licensing fees is more than the costs of our public protection efforts, we lower the fees. This year, we are able to reduce fees for two professions.’

Central Vermont Public Service (NYSE: CV) announced in a statement Monday evening that the CVPS Board of Directors has authorized discussions with Gaz Métro Limited Partnership regarding Gaz Metro's unsolicited acquisition proposal. GazMetro is the owner of Green Mountain Power and Vermont Gas Systems.
On May 30, 2011, CVPS announced that it had entered into a definitive agreement with Fortis Inc. (TSX: FTS) providing for the acquisition of all of the outstanding common shares of CVPS by Fortis for $35.10 per share in cash, including approximately $230 million in debt, for an aggregate purchase price of approximately $700 million. CVPS continues to be bound by the terms of that agreement.

The Saint Michael's College Board of Trustees announced the re-appointment of President John J. Neuhauser for an additional three-year term. The announcement was made at the college s trustee meeting June 10, by board Chairman Joseph P. Garrity, retired director of 4Kids Entertainment, New York City, current partner of Prospect Capital Partners and director for Wireless Telecom Group.
We have been most fortunate to have the leadership of President Jack Neuhauser for the past four years, Garrity said. Despite the most difficult global economic period in over a generation, significant progress was made in advancing Saint Michael's.
Pointing out President Neuhauser s successful leadership, Chairman Garrity said, We successfully completed our 10 year re-accreditation, a new strategic plan was developed and approved, our faculty passed a major curriculum revision, and this past year applications to Saint Michael's were up over 30 percent.