Current News
by tim
In a December 20, 2010, article titled ‘America’s Best And Worst Banks,’ Forbes.com ranked NBT Bancorp as the eleventh-best bank in the nation. NBT Bancorp was one of only three institutions from the Northeast to make the top 12.
Forbes ranked the 100 largest banks, thrifts and holding companies on data provided by Charlottesville, Va.-based SNL Financial. Eight measures of financial health were used to gauge asset quality, capital adequacy and profitability. Those measures included: return on average equity; net interest margin; nonperforming loans (NPLs) as a percentage of loans; nonperforming assets as percentage of assets; reserves as a percentage of NPLs; two capital ratios (Tier 1 and risk-based); and leverage ratio. Forbes ranked the financial institutions on each measure and averaged the individual rankings to make its determination.
by tim
Senator Patrick Leahy announced Thursday that more than 30 government agencies and prime contractors will be available to meet with Vermont’s small businesses during a contract matchmaker event next Thursday, February 24th, at the Sheraton Hotel and Conference Center in Burlington. The event will also feature Governor Peter Shumlin, U.S. Small Business Administration New England Regional Administrator Jeanne Hulit, and U.S. General Services Administration Regional Administrator Robert Zarnetske.
by tim
Governor Peter Shumlin today signed the state’s Budget Adjustment Bill, a milestone for progress in the legislative session. The governor noted that this is the earliest date any governor had signed this legislation in at least a decade, and complimented the leadership in the House and the Senate for moving swiftly to affordably address the needs of Vermonters.
by tim
Larry Reilly, former president of distribution companies at New England Electric System and executive vice president at National Grid, will be the next president and chief executive officer of Central Vermont Public Service (NYSE: CV).
Reilly told Vermont Business Magazine that some of the first issues he will face are with the renewal, or not, of the Vermont Yankee Nuclear Power Station in Vernon; the set up the SmartGrid system; and the ongoing upgrade to infrastructure, particularly the transmission system, which will be costly.
Reily will begin that effort March 1. Bob Young, who as president led Central Vermont Public Service through a cultural, service and environmental transformation, announced his planned retirement in July 2010 effective May 3, 2011. Reilly will begin as president and CEO on March 1 and will report to Young, who has been named executive chairman of the company, until May to allow for an orderly transition.
by tim
The Lake Champlain Bridge Community, the grassroots organization entrusted to create, plan and lead the public festivities that will celebrate the replacement and re-opening of the Lake Champlain Bridge, is pleased to unveil the logo design that will be used to promote the event.
The Lake Champlain Bridge Community solicited Vermont- and New York-based professional and student graphic artists to submit prospective designs, pro bono. The selected design was created by Linus Biederman, a junior in the Design & Illustration Program at the Patricia A. Hannaford Career Center in Middlebury, Vt. Linus is a Middlebury resident and the son of William Biederman and Gloria van den Berg. He is also an active member of the Middlebury Union High School varsity boy's lacrosse team.
by tim
Certified Financial Planner Board of Standards, Inc. announces public disciplinary actions against the following individuals' right to use the CFP® certification marks, effective immediately.
Public disciplinary actions taken by CFP Board, in order of increasing severity, include letters of admonition, suspensions and permanent revocations. The basis for each decision can be found in a Disciplinary Action Report below and on CFP Board's Web site. Consumers may check on any planner's disciplinary history and certification status with CFP Board at www.CFP.net/search .
by tim
On February 17th, the Cary Institute of Ecosystem Studies will be releasing a new report on the outlook for converting forest biomass into renewable energy in the Northeast. Forest Biomass and Bioenergy: Opportunities and Constraints in the Northeastern United States details the availability of forest resources and the applications that are the most effective at reducing greenhouse gas emissions and foreign oil dependence while promoting rural economies.
Join experts for a discussion about how biomass energy can be used to help the Northeast work toward a renewable energy future. Also learn about existing pressures on forests, regions that show the potential for forest biomass energy growth, and the need to manage forests for multiple uses, including carbon sequestration and wildlife protection.
by tim
CredAbility, one of the leading nonprofit credit counseling and education agencies in the United States, today released the CredAbility Consumer Distress Index results for the 2010 fourth quarter. The Index, a quarterly measure that tracks the financial condition of the average U.S. household, found that rising stock prices helped propel growth in consumers' net worth. But lower scores in three of the index's other four categories -- employment, housing and household budget ‘ drove down the overall index. The health of household budgets declined each quarter in 2010 and is at the lowest level since the first quarter of 2009.
For the quarter ended December 31, 2010, American households scored a 64.3 on the Index's 100-point scale, down slightly from 64.4 in the third quarter of 2010. For all of 2010, the index showed a small improvement, moving up from a score of 63.9 in 2009's fourth quarter.
by tim
GreenPath, Inc., a nonprofit consumer credit counseling agency doing business as GreenPath Debt Solutions, announced today that it has acquired the assets of Consumer Credit Counseling Service (CCCS) of New Hampshire and Vermont. GreenPath is now providing free debt counseling and financial education from offices in Concord, Dover, Keene, Lebanon, Manchester, and Nashua, New Hampshire; and in Barre, Burlington, and Rutland, Vermont.
GreenPath is committed to strengthening local services. "We are looking forward to providing our GreenPath products and services to residents of New Hampshire and Vermont," said Jane McNamara, president and CEO, GreenPath, Inc. "CCCS of New Hampshire and Vermont's long history of providing local services will continue and expand under the GreenPath name."
by tim
U-Haul International, Inc, today released the results of the annual U-Haul National Migration Trend Report, reflecting the nation's top growth states for families who moved during 2010. The report, titled "2010 Top 10 U.S. Growth States," indicates that for states with more than 20,000 families moving, Michigan had the highest percentage of growth, with 3.14 percent more families moving into the state than out, moving Kentucky to sixth place from last year. For states with 5,000 - 20,000 families moving, Vermont had the highest percentage, with a growth rate of 19.46 percent in 2010.
U-Haul Top 10 U.S. Growth States
January - December 2010
With More Than 20,000 Families Moving
RANK
STATE
%GROWTH
1.
MICHIGAN
3.14%
2.
TEXAS
1.67%
3.
MARYLAND
1.61%
4.
WASHINGTON
1.53%
by tim
Digital Insurance Inc. (www.digitalinsurance.com), the nation's leading employee benefits agency specializing in insurance for small businesses and mid-sized companies, has merged with The Benefit Group of New England LLC (BGNE), based in Colchester. The regional firm’s owners and all staff members will continue operating the company and clients will have access to more robust resources, sophisticated technology, price advantages and proprietary solutions available through Digital’s national platform.
by tim
As the promoters of one of the world’s biggest, modern day rock and roll concert event unleashed their powerhouse 2011 line up today, there was one act guaranteed to go back to the show in Tennessee in a bigger and bolder way: Ben & Jerry’s Bonnaroo Buzz ice cream. The flavor, which was available only in Scoop Shops in 2010, is set to make its national debut on the main stage of frozen foods freezers across the country as Ben & Jerry’s has selected it to be one of its prestigious pint flavors for 2011.