Current News

The Community Health Center of Burlington (CHCB) has received a grant award from the Walmart Foundation’s State Giving Program. The $25,000 grant will be used to support CHCB’s school-based dental program for low-income and uninsured Burlington children without a dental home. Over the last year, CHCB has seen a rise in the number of low-income, uninsured children seeking care at our school-based dental clinic. So far this school-year, 577 low-income, uninsured Burlington school children, who didn’t have a dental home, have been cared for at CHCB’s school-based dental clinic and over $19,000 of no-cost care has been provided to uninsured children. During the last school-year, CHCB provided over $34,000 in no-cost care for low-income, uninsured kids - a dramatic increase from previous years.

Deputy Agriculture Secretary Kathleen Merrigan tasted some of the best local food products in the US in a new USDA video promoting the Value Added Producer Grant Program. Among those products was Apple Cider Syrup from Vermont. The program is undergoing some changes and USDA is getting out the word.
The proposed changes to this already well-utilized USDA program are designed to streamline the application process, expand eligibility and ultimately get these quality local products to market effectively and efficiently.
‘This program creates opportunity for farmers, producers and cooperatives to enhance product development and marketing with the goal of increased sales,’ said Molly Lambert, State Director for Vermont and New Hampshire USDA Rural Development.

Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, announced that it acquired a MSW landfill in McKean County, PA out of bankruptcy proceedings on February 24 for $0.5 million in cash and the assumption of certain contractual obligations.
The roughly 230 acre landfill is permitted by the Pennsylvania Department of Environmental Protection to accept 1,000 tons per day of MSW by truck and 5,000 tons per day by rail. While a rail siding is permitted at the site and the property abuts a railroad spur, the company has no immediate plans to build a rail siding. The site has over 33.5 million cubic yards of permitted airspace. The company estimates the net present value of assumed contractual obligations and closure and post closure liabilities at approximately $4.2 million.

Vermont Information Technology Leaders, Inc. (VITL), operator of Vermont's statewide health information exchange (HIE), announced today that it has selected Medicity's suite of health information exchange solutions to improve the quality and cost-effectiveness of health care in Vermont.
"Since VITL began operations as an independent non-profit organization in 2005, it has been working to improve the care that Vermonters receive by enabling electronic communication between health care providers," said David Cochran, MD, VITL's president and CEO. "The selection of Medicity as our HIE partner, with its industry-leading technologies and vast experience with statewide health information exchange - will allow us to accelerate connecting Vermont's health care providers and provide additional support to Vermont's nation-leading health care reform efforts."

Verizon Wireless recently activated a new cell site in Shelburne that expands wireless voice and 3G data coverage along Route 7, as well as the surrounding areas. The company invested in Chittenden County to continue to stay ahead of increasing demand for reliable voice and mobile Internet access. Verizon Wireless has invested more than $2.8 billion into its New England network since 2000, including more than $242 million in 2010 alone, to increase coverage and capacity on behalf of customers. Verizon Wireless operates the nation’s largest and most reliable 3G network.

The Vermont Business Center is affiliated with the University of Vermont's School of Business Administration. The VBC offers a series of management development seminars, training needs assessment services and custom training programs. In addition, we are a point of access for area businesses to a variety of UVM resources. The Vermont Family Business Initiative is affiliated with the VBC.
Upcoming VBC Seminars:
March 18 - Financial Analysis for Strategic Decision Making, 8:30 a.m.-4:30 p.m. Use financial analysis methods to recognize opportunities for your business' improvement and understand the relative significance of opportunities that come your way.
Register Now...

Central Vermont Public Service (NYSE-CV) today announced that it has reached a settlement with the Vermont Department of Public Service, the Town of Proctor Selectboard and Omya Inc. for the purchase of the assets of and consolidation of service territory of the Vermont Marble Power Division of Omya.
The transaction has already been approved by the Federal Energy Regulatory Commission, which regulates the hydro sites and transmission facilities involved in the sale, but must also be approved by the Vermont Public Service Board.

Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, today reported financial results for its third quarter fiscal year 2011. For the quarter ended January 31, 2011, revenues were $111.6 million, up $1.7 million or 1.6 percent over the same quarter last year, driven mainly by solid waste volume growth and higher commodity prices. Operating income was $6.3 million for the quarter, down $1.1 million from the same quarter last year. The company's net loss applicable to common shareholders was ($6.4) million, or ($0.24) per common share for the quarter, compared to ($4.4) million, or ($0.17) per share for the same quarter last year. Adjusted EBITDA* for the quarter was $22.4 million, down $1.6 million from same quarter last year.

Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, announced today that it has completed the sale of select non-integrated recycling assets to a new company formed by Pegasus Capital Advisors, L.P. and Intersection, LLC for $134.1 million in gross proceeds, including an estimated $3.7 million working capital adjustment.
Highlights include:
* Net cash proceeds of approximately $120.0 million to be used to repay Senior Secured Term Loan B borrowings.
* Transaction results in pro forma leverage of 4.0x, down 0.4x from the October 31, 2010 leverage of 4.4x, as calculated per Senior Secured Credit Agreement.
* The assets sold as part of this transaction contributed $14.0 million consolidated Adjusted EBITDA* for the twelve months ended October 31, 2010.

Bruegger's announced that it will donate approximately $90,000 to Children's Miracle Network Hospitals - largely the result of its "Bottomless Mug" campaign, which ran October 27, 2010 through January 31, 2011. Throughout the campaign, the fast casual leader donated a portion of proceeds from sales of the bakery's popular Bottomless Mugs and asked generous guests to donate spare change (and more) during its first-ever Free Coffee Day in November 2010.
The campaign was Bruegger's first national fundraiser to benefit Children's Miracle Network Hospitals and the first time the bagel leader, with 300 locations in 26 states, donated a portion of proceeds from sales of its popular Bottomless Mug. Guests who purchased the Bottomless Mug receive unlimited free refills of coffee, tea or soft drinks for a full year -- and helped sick and injured children by supporting children's hospitals in Bruegger's neighborhoods.

Mylan Inc (Nasdaq: MYL) today confirmed that the company has been sued by Vivelle Ventures LLC, Noven Pharmaceuticals Inc. and Novartis Pharmaceuticals Corporation in connection with the filing of an Abbreviated New Drug Application (ANDA) with the U.S. Food and Drug Administration (FDA) for Estradiol Transdermal System, USP (Twice-Weekly), 0.025 mg/day, 0.0375 mg/day, 0.05 mg/day, 0.075 mg/day and 0.1 mg/day. This product is the generic version of Vivelle-Dot®, which is indicated for the treatment of symptoms associated with menopause, the treatment of hypoestrogenism and the prevention of postmenopausal osteoporosis. Mylan has a plant in St Albans which manufactures Transdermal patches and pharmaceutical labels.

The Teagues of North Carolina, the Mahaffys of Oregon and the Beidlers of Vermont are the top three winners of the Stonyfield Organic Farmers Grant-a-Wish Program, which will fund a total of six innovative organic farming projects in the U.S. Consumers voted online for the winners after watching short videos about each one. All recipients are farmer-owners of Organic Valley/CROPP Cooperative, t he organic farmers’ cooperative which has supplied Stonyfield with organic milk for more than 15 years.
‘It’s exciting that consumers are taking the time to get to know the farmers who grow their food and getting involved in ways like the Grant-a-Wish Program to help organic agriculture innovate and thrive,’ said Gary Hirshberg, Stonyfield President and CE-Yo.