Current News

Vermont will receive approximately $1.4 million as part of a settlement with AstraZeneca Pharmaceuticals, LP, and AstraZeneca LP, Attorney General William H. Sorrell announced today. The total settlement of $68.5 million, paid to thirty-seven states and the District of Columbia, is the largest payment ever for a multistate drug consumer protection settlement.
‘Pharmaceutical companies must accept that they can only promote drugs for FDA-approved uses,’ said Attorney General Sorrell, ‘to do otherwise puts some of the most vulnerable Vermonters at risk, including children, the elderly, and those suffering from mental illness.’

The Vermont Department of Labor announced today the seasonally adjusted statewide unemployment rate for January 2011 was 5.7 percent. This reported level resumes the downward trend established through much of 2010. It is a decrease of one tenth of a percentage point from December 2010 and a decrease of a full percentage point from January 2010.

Starbucks Corporation (NASDAQ:SBUX), the world’s premier roaster, marketer and retailer of specialty coffees, and Green Mountain Coffee Roasters, Inc (NasdaqGS: GMCR ), a leader in specialty coffee and single-serve brewing systems, today announced a strategic relationship for the manufacturing, marketing, distribution and sale of Starbucks and Tazo tea branded K-Cup portion packs for use in GMCR’s Keurig Single-Cup brewing system. The $2 billion single cup systems together account for the growth in the coffee industry last year. The deal also was the brightest spot on what has been a miserable day so far on Wall Street. While the NYSE and NASDAQ are both down about 1.5 percent, GMCR' stock increased more than 17 points, or 39 percent. GMCR reported 2010 revenues of $1.4 billion. Its market cap is $8.6 billion. STOCK ANALYSIS

A new fund, organized by Pete’s Greens and the Center for an Agricultural Economy (CAE), aimed to help Vermont agricultural organizations, is on the fast track to becoming a reality. Pete Johnson, owner of Pete’s Greens, and Monty Fischer, Executive Director of CAE met recently to outline the details to create the Vermont Farm Fund. Plans include the creation of an advisory board by the end of March and focusing the funding towards innovative and progressive agricultural efforts by Vermont farms, including support for farm-to-school initiatives, emergency farm relief and exploring the establishment of small farm loan funds.

A team from the International Rhino Foundation tends to a black rhino in Zimbabwe. The IRF is one of four recipients of an Orvis Commitment to Protect Nature Grant for 2011. The Orvis CompanyThe Orvis Company announced today the winners of its Commitment to Protect Nature Grants for 2011. Every year, Orvis reviews projects submitted from around the world. From those submissions Orvis chooses the best ones to share with their customers in matching grant campaigns in their catalogs and online. This year's projects reach around the globe and include: Protection of both the endangered black rhino of Zimbabwe and the Coral Triangle fishery at the intersection of the Indian and Pacific Oceans; as well as restoration of Montana's famous Upper Clark Fork River and of the dwindling Florida panther populations.

Two thirds of states have cut mental health care in the last three years’even though need has increased because of the nation's economic distress and troops returning home from war, according to a report released today by the National Alliance on Mental Illness (NAMI).
Seventeen states managed to increase mental health budgets during the same three years. For 10 of them, the increases totaled four percent or less.
"State mental health cuts are a national crisis," said NAMI Executive Director Michael J. Fitzpatrick. "Some states are trying to hold the line or make progress, but most are cutting deep. This stands in contrast to the intense national concern about the mental health care system following the Arizonatragedy two months ago."
State Lists and Data

DuBois & King, Inc., consulting engineers announced the opening of their new Springfield, Vermont office. The firm also provides professional engineering services from offices in Williston and Randolph, Vermont and Bedford, New Hampshire.

General Dynamics Armament and Technical Products was awarded an $11.2 million contract modification by the U.S. Navy for the continued production of MK82 directors and MK200 director controllers for Aegis Combat System illuminators. General Dynamics Armament and Technical Products is a business unit of General Dynamics (NYSE: GD).
The MK 82 and MK 200 are critical components of the Aegis missile fire-control system's illuminator. The Aegis Combat System is the most advanced tactical radar defense and fire-control system fielded by the Navy.
This award modifies a contract issued in September 2010 by the Naval Sea Systems Command. That contract was valued at $11.5 million, with a total potential value of $29.5 million if all options are exercised. Under these contracts, the MK82 directors and MK200 director controllers will be installed aboard ships built under the restart of the DDG 51 shipbuilding program.

There were 737 new regular benefit claims for Unemployment Insurance last week, a decrease of 491 from the week before, as claims fell following a recent increase. Altogether 12,591 new and continuing claims were filed, a decrease of 230 from a week ago and 2,872 fewer than a year earlier. The Department also processed 2,044 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 45 fewer than a week ago. In addition, there were 989 Second Tier claims for benefits processed under the EUC08 program, which is an increase of 25 from the week before. The Unemployment Weekly Report can be found at: http://www.vtlmi.info/. Previously released Unemployment Weekly Reports and other UI reports can be found at: http://www.vtlmi.info/lmipub.htm#uc

Fletcher Allen reported a net operating income of approximately $831,000 for the first quarter of the 2011 Fiscal year. The first quarter covers the period beginning October 1st and ending December 31, 2010. The organization also finished its 2010 fiscal year approximately $2.6 million below budget. The fiscal year runs from
October 1 through September 30.
First Quarter Results
The net operating income for the first quarter was approximately $2.1 million above the budgeted $1.3 million loss, and $735,000 above the first quarter of FY 2010.

The Greensburg Wind Farm in Greensburg, KS, has been named "Wind Project of the Year" by RenewableEnergyWorld.com, a leading renewable energy publication. This award recognizes the project's community benefits and unique financing model.Jeff Bernicke, president of NativeEnergy of South Burlington, accepted the award at the Renewable Energy World Conference and Expo in Tampa, Florida.
RenewableEnergyWorld.com said: "To recognize the perseverance of the people of Greensburg, Kansas, and the leadership of companies involved in developing and marketing the project, the 12.5 MW Greensburg Wind Farm is the 2011 'Wind Project of the Year.'"
In May 2007, a massive tornado leveled Greensburg, destroying 95% of the town. In the face of this tragedy, the citizens of Greensburg decided to rebuild as "the greenest town in America." This plan’spearheaded by non-profit Greensburg GreenTown’included construction of the Greensburg Wind Farm.

Vermont Business Magazine Sonnax Industries, an auto parts manufacturer based in Bellows Falls, has been sold to its employees. The previous owners, Tommy Harmon and Rick Fritz, sold 100% of the company stock to an Employee Stock Ownership Plan (ESOP). The company employs about 150 people.

"The ESOP is the ultimate way to reward our employees for their contributions to the success of Sonnax," said Sonnax President and CEO Tommy Harmon. "From now on when customers, suppliers, or other stakeholders are interacting with Sonnax personnel, they will be dealing with an owner."

"The overriding benefit of the ESOP is that it allows employees to participate in the growth and success of the company. Additionally, the ESOP should be instrumental to Sonnax in attracting and retaining the best talent in our industry," Harmon added.