Current News
by tim
Berkshire Hills Bancorp, Inc (Nasdaq: BHLB) and Rome Bancorp, Inc (Nasdaq: ROME) today announced the preliminary results of elections made by Rome Bancorp, Inc stockholders as to the form of merger consideration to be received in the pending merger of Rome Bancorp with and into Berkshire Hills Bancorp. The election deadline for Rome Bancorp stockholders to have made merger consideration elections in connection with the proposed merger expired at 5:00 p.m., EDT, on March 18, 2011.
Of the approximately 6,777,551 shares of Rome Bancorp common stock outstanding as of March 18, 2011:
The holders of approximately 5,043,184 shares, or 74.4%, elected to receive Berkshire Hills Bancorp common stock;
The holders of approximately 710,243 shares, or 10.5%, elected to receive cash; and
The holders of approximately 1,024,124 shares, or 15.1%, submitted elections expressing no preference as to the form of merger consideration or did not make a valid election.
by tim
Small business owners with eligible commercial real estate mortgages maturing after December 31, 2012, will be able to secure more stable, long-term financing through the US Small Business Administration’s temporary 504 refinancing program as a result of a change that will be published in The Federal Register by April 6.
In February, SBA implemented a temporary refinancing program enacted under the Small Business Jobs Act of 2010, which allowed small businesses facing maturing commercial real estate mortgages or balloon payments before December 31, 2012, to refinance with an SBA 504 loan. The SBA change will lift the date limitation and will allow more small businesses to secure stable, long-term financing and avoid potential foreclosure on mortgages approved before and during the recession that were based on inflated real estate values.
by tim
Woolrich, the Original Outdoor Clothing Company®, will partner with Jager di Paola Kemp Design (JDK) of Burlington, Vermont, to create and implement a global brand development strategy. JDK's collaboration with Woolrich will key on the development of an international brand platform for the iconic American apparel maker.
Founded in 1988, JDK's design driven branding approach and proprietary Living Brand® strategy has garnered them international recognition as a leader in the discipline. The Living Brand process reveals the core ideas behind a brand, while the emotional, rational, and cultural aspects of the brand are also taken under consideration. JDK's work includes development of creative and distinctive branding strategies for a wide range of brands including Burton Snowboards, Levi Strauss, Champion Paper, and Microsoft Xbox 360.
by tim
In a move to support local businesses and reduce Vermont’s reliance on foreign oil, Governor Peter Shumlin today called for incentives to promote clean-burning, energy efficient wood heat.
Governor Shumlin called on Efficiency Vermont and the state Department of Public Service to create an incentive program to assist Vermonters who choose to switch from oil heat to wood pellet options, and to ensure that plan becomes part of the comprehensive energy plan due from the DPS this fall.
‘This makes sense for Vermont’s economy; it makes sense for Vermont’s environment; and it makes sense for Vermonters’ pocketbooks,’ the Governor said at a morning news conference at the State House.
Governor Shumlin said the reasons for switching to clean-burning wood pellet heating systems include:
by tim
MVP Health Care, a leading not-for-profit health care plan, today announced that it has been honored by the Vermont Governor's Council on Physical Fitness and Sports for its worksite wellness program. MVP received the award from Governor Peter Shumlin at the Worksite Wellness Conference, presented by the Vermont Department of Health, held earlier today in Burlington for its promotion of good health practices on and off the job. Receiving the award on behalf of MVP was President and CEO Dave Oliker.
‘At MVP, our employees and their families are the heart of our business,’ Oliker said. ‘As a result, our company culture focuses on our employee wellness programs, which engage our employees and their families to live healthy lifestyles, decrease the risk of disease, and enhance the quality of life, all of which contribute to the company's continued success.’
by tim
Dr Philip A Conroy, Jr this week will begin his tenure as President of Vermont Technical College. He was appointed by the Vermont State College's Board of Trustees earlier this year following a nationwide presidential search. Conroy comes to Vermont Tech from Mount Ida College in Newton, Massachusetts, where he served as vice president of enrollment management and marketing.
But while he and his wife, Dr Jan Conroy, have yet to move into the president’s house, Conroy is no stranger to Vermont Tech. Following his appointment December 9th, he quickly formed a 20-plus member presidential transition team representing all areas of the college with which he’s been working to identify the college’s needs and priorities, as well as establish new directions the college will take under his guidance and leadership.
by tim
On Monday Governor Peter Shumlin announced $575,000 in grant funding to begin the environmental remediation process at the former J & L Plant 1 in Springfield.
The Governor presented the awards, one for $400,000 from the Southern Windsor County Regional Planning Commission and the other, totaling $175,000 from the Vermont Agency of Commerce and Community Development, to Bob Flint, executive director of the Springfield Regional Development Corporation. SRDC purchased the former J & L property in 2002.
The funding will allow work to begin on cleaning up the contamination on the property, specifically the removal of the former chip shed and associated soils behind the building as well as the removal of asbestos from the former office area.
by tim
Representative Peter Welch, joined by Governor Peter Shumlin and business and community leaders, welcomed the nation’s top rail official to Rutland Monday as he continued to push for federal funding of Vermont’s Western Corridor high-speed rail project. With the rejection of high-speed rail funds by several states in recent months, Vermont’s congressional delegation has been pushing for those funds to be reallocated to Vermont’s Western Corridor project, which runs from Rutland to Burlington.
by tim
Senator Patrick Leahy (D-Vt.) Monday announced a new $9.8 million U.S. Navy contract with General Electric Aviation for work in Rutland on additional engine components used in the F/A-18E/F Super Hornet aircraft. The full contract, for work performed in Rutland and at several other GE plants, totals $246,520,390.
Leahy is a senior member of the Senate Appropriations Committee and of its Defense Subcommittee, which handles the Senate’s work in writing the annual defense budget bill. He has been a long time supporter of GE Aviation’s work performed in Rutland and elsewhere across the United States. The Rutland facility primarily produces jet engine blades and vanes.
‘This contract demonstrates the value that GE Aviation Rutland’s workers bring again and again to our fleet of military aircraft,’ said Leahy.
by tim
Andrews, Lawton, Moran Elected to Vermont Public Television Board
Julia Andrews, Lorilee A Lawton and Mary E Moran have been elected to the board of directors of Vermont Public Television, Vermont's statewide public television network.
Andrews is a resident of Westford, Vt. She is marketing strategist/account executive at Spike Advertising in Burlington. Before that, she held sales and marketing positions at Comcast, Charter Communications and Competitive Computing.
She is affiliated with Vermont Businesses for Social Responsibility and is co-founder of the Westford, Vt., Food Shelf. She is a graduate of the University of Massachusetts at Amherst.
Lawton, of Colchester, Vt., is the owner, president and CFO of Firetech Sprinkler Corp. of Colchester. Before that, she was owner and president of Colchester’s Red Hed Supply Inc.
by tim
Senator Bill Doyle today released the results of his 42nd annual town meeting survey. There were 15,000 returns from 142 Vermont towns and cities, one of the largest returns ever. Responders overwhelmingly support a law that would ban cell phone calling while driving, tougher DUI laws and expanding the bottle bill, while slightly more responders to the survey favored keeping the Vermont Yankee nuclear power plant open for another 20 years.
Some of the results were as follows: Closest tally VT yankee 45% yes, 41% no, 14% unsure
Strongest support were:
Ban Cell phones 75%
Tougher DUI law 75%
Expand bottle deposit 79%
Pay more for locally grown foods 63%
Require use of motorcycle helmets 90%
Below are the full results.
Senator Bill Doyle
Town Meeting Day Survey - March 2011
15,000 returns from 142 Vermont Towns and Cities in Percentage
Question
Yes
No
Not Sure
by tim
The Vermont Department of Education has selected Education Networks of America, from Nashville, TN, to provide managed Internet access and wide area network (WAN) services, including options to take advantage of new cost-effective IP voice and video teleconferencing services, on an opt-in basis to all public and private K-12 schools in the state.
On behalf of the state’s K-12 schools, the department issued a request for proposal (RFP) for managed connectivity and communication services in an effort to increase affordable bandwidth availability across the state through group purchase pricing, as well as to maximize E-Rate program funding for these services. The E-Rate program provides subsidized discounts to school and libraries for the purchase of telecommunication and networking services.