Current News

General Fund revenues totaled $161.67 million for April 2011, and were $10.26 million or 6.78 percent above the $151.41 million consensus revenue forecast for the month. April year to date General Fund Revenues were $975.00 million or $11.91 million or 1.24 percent ahead of target. Compared to the same period for the prior fiscal year, FY 2011 GF results are 10.38 percent ahead of FY 2010, but remain below the pre-recession FY 2008 results by -5.29 percent. Secretary of Administration Jeb Spaulding released the April 2011 General Fund Revenue results today. April is the tenth month of fiscal year (FY) 2011.

Maponics (www.maponics.com), a leading provider of location-based data, today announced a new offering that includes the geographic boundaries of more than 3,000 shopping malls, districts, centers and outlets across 100 metro areas in the United States. Unlike the data found on popular search engines and directories that only show shopping locations, Maponics Shopping Boundaries includes the boundary outlining shopping areas and adjacent parking, along with the name, address and type of shopping area.

The Department of Motor Vehicles is putting drivers on notice about the expired Lake Champlain Quadricentennial license plate.
The license plate, which was issued to commemorate the 400th anniversary of Samuel de Champlain’s exploration of Lake Champlain in 2009, may no longer be displayed on the front of any registered Vermont automobile. The commemorative plate was approved by the Vermont Legislature to be placed over the existing front plate of Vermont vehicles from July 1, 2008 to June 30, 2010.
Vermont Inspection Stations have been instructed to not issue a new inspection sticker until the Lake Champlain plate has been removed and the existing registration plate is visible.

People’s United Financial, Inc. (NASDAQ: PBCT) and Danvers Bancorp, Inc. (NASDAQ: DNBK) today announced updated information on the deadline for Danvers stockholders to make elections regarding the form of merger consideration to be received in connection with the pending merger of Danvers with and into People’s United. The election deadline will expire approximately five business days prior to the expected closing date of the merger as contemplated by applicable provisions of the merger agreement. People’s United and Danvers will issue a supplemental press release once the specific date of the election deadline has been established.

The Lake Champlain Bridge Community (LCBC), the grassroots group responsible for planning the Grand Reopening Celebration, has chosen the weekend of October 15-16, 2011 as the dates for the celebration. The Lake Champlain Bridge is scheduled to reopen on Sunday, October 9, 2011 according to Vermont and New York transportation officials. In the event the bridge does not open as planned, celebration events will be postponed until the spring of 2012.
Launched in early April, the official website for the celebration provides information on proposed events, the latest news on celebration activities and how to become involved. Many events are planned for the two-day celebration, including a grand parade that is reminiscent of the parade held in 1929 during the opening festivities for the ‘original’ bridge.

For the third straight year, Chroma Technology, a growing employee-owned company in Rockingham, has made WorldBlu's global "List of Most Democratic Workplaces."
"We don't use organizational democracy as a tool," said Chroma cofounder and president Paul Millman. "It is who we are."
Chroma was one of 52 international companies named to this prestigious list on April 12. Other well-known companies were Groupon, Zappos.com, HCL Technologies and WD-40.
Chroma manufactures optical microscope filters and coatings for laboratories all over the world. It has sales offices in Germany and, as of March, in China. Its 2010 sales were $19.6 million. It employs 90 people. In 2009 and 2010, it was on Inc. Magazine's 500/5000 list of the country's fastest-growing private companies.

Two of Vermont’s leading public policy organizations today released a set of new comprehensive tools that will help communities deal with the pressing issues regarding the state's energy future.
‘Vermonters are eager to help lead the state on its transition away from a fossil fuel-based economy to one based on renewable energy, conservation and efficiency. With the state’s well-developed planning framework, they are also well positioned,’ said Johanna Miller, Energy Program Director at the Vermont Natural Resources Council. ‘Now, they also have some new tools.’
Global challenges of diminishing energy resources, skyrocketing energy prices and climate change require concerted action on the part of all local, state and national governments. They also require forward-looking planning.

by Anne Galloway, www.vtdigger.org May 7, 2011 The gavel fell late Friday afternoon ‘ a week ahead of schedule ‘ on what Governor Peter Shumlin called ‘the most successful session that I have witnessed.’
With much bonhomie, the House and Senate adjourned thier business for the first half of the biennium. Leadership congratulated their members on finishing a week earlier than scheduled. It was the first Friday adjournment in memory; typically sessions drag past the 16-week deadline and the gavel falls into the wee hours of a Saturday.
This year, however, was different. In lots of ways.

The Commissioner of the Vermont Department of Banking, Insurance, Securities and Health Care Administration is warning Vermonters to watch out for fraudulent companies and individuals claiming to be health insurers or agents of health insurers who take the money of unwary consumers but do not pay claims.

Berkshire Hills Bancorp, Inc. (NASDAQ: BHLB) held its annual meeting of shareholders on May 5 in Pittsfield, Massachusetts. President and CEO Michael P Daly reported on Berkshire's recent accomplishments and outlook. He discussed Berkshire's plans to increase core earnings per share by 40-50% in 2011, and noted a 25% increase in core earnings in the most recent quarter. He reviewed the Company's strong capital, liquidity, and asset quality. Daly reported on the progress towards completing the pending merger with Legacy Bancorp in the third quarter of 2011 and summarized Berkshire's financial goals, including achieving a$2.00 core earnings per share run rate by the end of 2012. He also reported that Berkshire's stock produced a 10.5% total return to shareholders in 2010, maintaining a five year total stock return above the industry average.
Shareholders approved all proposals which were presented at the meeting. These were:

Central Vermont Public Service Corporation (NYSE: CV) reported May 5 that its consolidated earnings for the first three months of 2011 were $8.4 million, or 62 cents per diluted share of common stock. This compares to consolidated earnings of $4.2 million, or 35 cents per diluted share of common stock for the first three months of 2010. It attributed the earnings increase mostly to higher operating revenues.
It announced on Wednesday preferred stock dividends. Meanwhile, common stock dividends remain at $.46 per share.

Four Vermont public schools will join more than a dozen schools located throughout New England to test a new financial fluency program that teaches financial concepts within a math-based curriculum. The aim is to help educators develop new approaches to offering students instruction in personal finance.
Teachers at Bellows Falls Union High School, St. Albans City School, Twinfield Union High School and U32 High School started testing a six-lesson curriculum in late April. The lessons focus on budgeting, including ratios and proportions, and the power of compounding interest as applied to credit cards and investments. Case studies in the final lessons challenge students to apply what they have learned to individuals in financial trouble or who have poor personal finance habits.