Current News
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Entergy Corporation (NYSE: ETR) reported first quarter 2011 earnings of $1.38 per share on as-reported and operational bases. This represents an increase of $.26 over the same period in 2010. Revenues for the first quarter 2011 were $2.8 billion. Net income was $213.8 million.
Operational Earnings Highlights for First Quarter 2011
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Utility’s results were higher due primarily to higher net revenue driven by increased weather-adjusted sales volumes as well as pricing adjustments from previous rate actions.
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Entergy Wholesale Commodities’ earnings declined as a result of lower net revenue and lower other income, partially offset by a lower effective income tax rate.
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Parent & Other’s results were lower due to several individually insignificant items, including higher interest expense on Parent debt.
by tim
Two days after the US Department of Justice announced that it will not challenge the proposed merger of two major low-fare air carriers, Vermont’s congressional delegation ‘ Sen. Patrick Leahy (D), Sen. Bernie Sanders (I) and Rep. Peter Welch (D) ‘ are asking the soon-to-be-expanded Southwest Airlines to consider re-starting service to Vermont that AirTran suspended in the fall of 2009.
AirTran has maintained its gate and desk space at Burlington International Airport in anticipation of a possible resumption of service after the pending merger.
The Vermont lawmakers tout Vermont’s location, economy and facilities in their pitch to Southwest’s president and CEO, Gary Kelly. Their formal request follows informal discussions they have had with the two airlines in recent months.
Please click here to view the delegation letter.
Source: Delegation. 4.28.2011
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US Housing and Urban Development New England Regional Administrator Barbara Fields today awarded $128,400 to Vermont State Housing Authority for a new homeless program in Vermont. The grant announced today is an investment in a local project which has never received HUD homeless funds in the past, providing critically needed housing and support services to homeless individuals and families. Today’s grant is in addition to $3.7 million HUD awarded in January to renew funding to 24 existing Vermont homeless housing and service programs.
‘Today, we are announcing new funds to invest in critically needed programs that will go a long way towards helping Vermont State Housing Authority assist the homeless and put families and individuals on the road to independence,’ said Fields.
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Lieutenant Governor Phil Scott will recognize the owners of the Wayside Restaurant in Montpelier in a "green restaurant" award presentation on Tuesday, May 3.
Scott will join a representative from the Vermont Small Business Development Center in presenting an award to Wayside owners Brian and Karen Zecchinelli for becoming Vermont's fifth "green restaurant." An important part of this designation is the amount of local produce that goes into the menu at the Wayside. In recognition of this fact, a group of Central Vermont farmers will also be on hand at the event, which will run from 5:30 to 6:30 pm. The public is welcome to attend and stay for an a la carte dinner.
by tim
A quarter-million-dollar gift from The Grossman Family Foundation of Cos Cob, Ct. has been designated to support the priorities of the incoming dean of the University of Vermont’s School of Business Administration.
Designated to the School of Business Administration Dean's Fund, the gift is being made as an investment in the future of the School of Business Administration, according to Steven Grossman, a 1961 UVM alumnus and chair of the board of trustees of the foundation. The gift will be used at the discretion of the incoming dean, Sanjay Sharma, Grossman said.
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Governor Peter Shumlin, joined by officials from Craftsbury and Pete Johnson, today announced a $300,000 award to help Pete’s Greens rebuild after a devastating fire in January.
The award, recommended by the Vermont Community Development Board, goes to the Town of Craftsbury, which will loan the money to Pete’s Greens. The loan and interest will be repaid over 10 years.
‘This award is an important step in supporting not only a significant organic farm, but a local community that also suffered as a result of that fire,’ Governor Shumlin said. ‘Pete’s Greens is a key player in Vermont’s value-added agricultural market.’
The grant is one of several recommended by the VCDP Board and approved earlier this month by Lawrence Miller, Secretary of Commerce and Community Development. The Governor announced the other awards, which included a $600,000 grant for the Samaritan House homeless shelter in St. Albans, on Monday.
by tim
The Vermont Student Assistance Corp. (VSAC) will receive up to $1.3 million in additional funds to continue helping students find grants, loans and scholarships, the Vermont congressional delegation announced today.
The delegation also helped nonprofit lenders like the Winooski, Vt.-based VSAC secure a higher rate from the U.S. Department of Education for servicing student loans.
Sen. Bernie Sanders (I-Vt.), who serves as a member of the Senate education committee, led the effort on behalf of VSAC, with strong support from Sen. Patrick Leahy (D-Vt.) and Rep. Peter Welch (D-Vt.).
‘At a time of soaring college costs, I have supported President Obama’s move to increase the maximum Pell grant, which enables millions of low- and moderate-income students who go to college, by ending the billions in subsidies that big banks received to issue federally-guaranteed student loans,’ Sanders said.
by tim
Charlotte Vermont to Essex New York Ferry Crossing is closed due to record high water. The Grand Isle, Vermont to Cumberland Head, New York Crossing is running as scheduled 24-7. The temporary ferry crossing at Chimney Point, Vermont, to Crown Point, New York, is running as scheduled 24-7.
All Lake Champlain Ferry Customers are encouraged to sign up for our text and e-mail notification system at www.ferries.com.
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Vermont Law School Professor Cheryl Hanna, a Constitutional law expert, offers a post-argument analysis of Sorrell v. IMS Health Inc., which was argued before the US Supreme Court on April 26, 2011. Hanna attended the arguments with several students from her Constitutional law class.
A lawyer is only as good as the law that the Legislature hands her, and it was clear after yesterday's US Supreme Court argument in Sorrell v. IMS Health Inc. that Vermont Assistant Attorney General Bridget Asay had a not-so-good law to defend. The state is fortunate to have an assistant attorney general as skilled as Asay. But nothing she could have said or done would likely have saved Vermont's physician data mining law from a near certain death.
by tim
Vermont Electric Cooperative (VEC)experienced widespread outages throughout the service territory as thunderstorms dumped heavy rain and lightning Tuesday evening and early Wednesday morning. Approximately 10,000 customers had brief power interruptions, most lasting less than 15 seconds, when lightning struck transmission lines. For about 3,600 customers, outages were longer in duration ranging from thirty minutes to a few hours.
Lightning strikes hit VEC transmission lines, along transmission lines owned by other distribution utilities that feed the VEC system. Nearly all outages were restored by midnight at which time weather conditions became more settled. VEC members from Grand Isle to the Northeast Kingdom were impacted.
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Former Vermont Governors Madeleine M. Kunin and James Douglas will participate in a symposium and panel discuss at 6:30 p.m. Wednesday, April 27, in Bentley Hall Room 207 at Johnson State College.
The two distinguished political personalities will reflect on their life in public service during a 90-minute panel discussion moderated by JSC senior Matthew Burgess, with questions posed by a four-student panel.
‘There will be an array of questions designed to engage the audience and elicit stories from the past governors about their experiences in public life,’ says Burgess, who is coordinating the event as part of his Senior Seminar in Political Science course. ‘It should be good opportunity to hear some new stories from our former state leaders.’
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Governor Peter Shumlin’s appointment of Chuck Ross as secretary of agriculture won praise from Vermont farmers as well as political insiders. Ross, 55, is well known for his work as Senator Patrick Leahy’s state director for the past 16 years. He also served six years in the Vermont Legislature as a representative from Hinesburg, where he has worked as a farmer on his family’s homestead.
Discussion with Chuck Ross, Vermont Agriculture Secretary Part 1