Current News

Dealer.com (www.dealer.com), the global leader in online marketing solutions for the automotive industry, today announced that it delivered another year of substantial growth in 2010, as revenues reached $85 million, an increase of over 60 percent from 2009 ‘ and more than triple the 2008 level. In addition to its continued strong financial performance, Dealer.com extended its technology and service leadership with an increase of more than 100 percent in research and development (R&D) spending ‘ for the second consecutive year ‘ as well as expanded industry partnerships and a variety of prestigious awards and accolades.

The City of Burlington has issued a response to the report by Larkin and Associates with respect to Burlington Telecom (’Larkin Report’). The Larkin Report was initiated in October 2009 by the Vermont Department of Public Service in relation to proceedings on BT before the Vermont Public Service Board. The Report was released over a year later on December 10, 2010 and contains several conclusions related to BT’s compliance with its CPG, knowledge of those compliance issues, accounting practices, and the viability of Burlington Telecom.
The City’s response addresses Larkin’s methodology in developing the report, Larkin’s conclusions related to BT as a going concern, the City’s response to BT’s finances, Condition 60 of BT’s Certificate of Public Good, and several accounting matters.

Governor’s Budget Address
January 25, 2011
Mr. President, Mr. Speaker, Mr. President Pro Tem, Members of the General Assembly, distinguished guests, fellow Vermonters:
Two weeks ago, we gathered here to commemorate a new day in our state’s long and rich history. In my inaugural address, I laid out my vision for Vermont ‘ a bold and ambitious agenda for job growth whose success depends on our ability to work together to get big things done.
That was a day for Vermonters to challenge our own imagination for what we must make possible: a new and innovative economy, quality health care for all Vermonters in a cost restrained system, broadband and cell service to every corner of the state, and educational excellence for a new century of job creators.

A new study by Informa Economics concludes that the Dairy Market Stabilization Program (DMSP) proposed by the National Milk Producers Federation would have withheld an estimated $626 million from dairy farmers during periods when they were already under significant financial pressure. In 2009, the worst financial year on record for dairy farmers, $390 million would have been withheld, with the majority of it, $236 million, coming from just five states: Wisconsin, New York, Minnesota, Pennsylvania and Michigan. Vermont would lose $4.1 million.

The Vermont congressional delegation today introduced legislation to let the state implement a single-payer health care system that could become a model for the nation.
Senators Bernie Sanders (I-Vt.) and Patrick Leahy (D-Vt.) introduced a Senate bill and Representative Peter Welch (D-Vt.) filed legislation in the House that would let Vermont and other states provide better health care at less cost beginning in 2014.
All three members of the delegation joined Governor Peter Shumlin at a Statehouse news conference one week ago and pledged to help the state secure federal waivers needed to implement sweeping health care reforms.
Sanders said, ‘It is my strong hope that Vermont will lead the nation in a new direction through a Medicare-for-all single-payer approach. At a time when 50 million Americans lack health insurance and when the cost of health care continues to soar, we must do all we can to lower the costs and improve the quality of care.’

By Paul Cillo. The extension of the Bush tax cuts passed recently by Congress gives Governor Shumlin and the Legislature another option for balancing the state budget in fiscal 2012 and 2013. A new analysis shows that the top 5 percent of Vermont taxpayers will save $190 million this year and a similar amount in 2012 as a result of the federal tax cut extension. Before the governor and the Legislature further undermine critical public services, they should look to these federal tax savings as a temporary source of additional state revenue.
Vermont ‘ along with nearly every other state ‘ saw a sharp drop in tax revenue as a result of the recession. The decline in revenue came at the same time state government needed to step up to help Vermont families that were suffering as a result of the recession. Governor Douglas acted as though the recession was permanent and the economy was never going to recover. He argued that Vermont had to cut spending to match this new reality.

Renewable Energy Vermont (REV), the state’s leading trade association for the renewable energy industry, welcomes new Board Chair Martha Staskus and Board Vice-chair Jim Merriam. REV also welcomes Interim Executive Director, Scott Merriam.
The REV Board of Directors has enthusiastically elected long-time REV board member Martha Staskus as Board Chair, replacing outgoing Board Chair, Lawrence Mott. Staskus brings over 15 years of experience in wind resource management and wind project development. Her extensive experience working with a broad spectrum of Vermont stakeholders will be a welcome asset to REV's leadership.

The Vermont Department of Labor announced today the seasonally adjusted statewide unemployment rate for calendar year 2010 trended down by nine tenths of a percentage point. The year ended with a seasonally adjusted unemployment rate of 5.8 percent which was a tenth of a percent higher than the November rate. This final over the month change was the only increase in 2010. It was preceded by a mix of five months of no change and six declines in the statewide unemployment rate.

KeyCorp (NYSE: KEY) today announced fourth quarter net income from continuing operations attributable to Key common shareholders of $292 million, or $.33 per common share. These results compare to a net loss from continuing operations attributable to Key common shareholders of $258 million, or $.30 per common share, for the fourth quarter of 2009. The fourth quarter 2010 results reflect an improvement in pre-provision net revenue and lower credit costs from the same period one-year ago. The fourth quarter 2009 results were negatively impacted by a $756 million loan loss provision. Fourth quarter 2010 net income attributable to Key common shareholders was $279 million compared to a net loss attributable to Key common shareholders of $265 million for the same quarter one year ago.
For 2010, Key’s net income from continuing operations attributable to common
shareholders was $413 million, or $.47 per common share. Results for the current year

After a careful review, EPA has disapproved Vermont’s 2002 water quality plan that set phosphorus targets for discharges into Lake Champlain. Following this action, EPA intends to work closely and collaboratively with the State to develop a new plan for reductions in phosphorus from sources in Vermont. Elevated levels of phosphorus cause algae blooms and other water quality problems in Lake Champlain. Today’s action follows EPA’s reconsideration and withdrawal of its 2002 approval of the plan. The Conservation Law Foundation had challenged that approval in federal court.

During a visit to Champlain Oil Company in South Burlington Monday, U.S. Sen. Patrick Leahy announced that he and U.S. Sen. Susan Collins (R-Maine) this week will introduce a bill making permanent a now-expired federal pilot program allowing heavy trucks to use the Interstate system in Maine and Vermont. Leahy was joined by Vermont legislative leaders, trucking advocates, state officials and business leaders in pointing to the economic, environmental and safety benefits of moving heavy truck traffic from Vermont’s state highway system to Vermont’s Interstate system.

Highway safety advocates today released the 2011 Roadmap Report, the eighth annual report card grading all 50 states and the District of Columbia on their performance when it comes to adopting 15 basic traffic safety laws. This year the report's publishers, Advocates for Highway and Auto Safety (Advocates), focused on the state budgetary impact of highway safety gaps. Vermont moved up to a grade of "yellow," mostly for its addition of a text-messaging prohibition.
"As states debate about keeping their treasuries solvent, lawmakers and governors in many states are blind to obvious legislative actions that will help with the budget crisis," said Judith Lee Stone, president of Advocates. "The 2011 Roadmap To State Highway Safety Laws shows that adoption of effective state traffic safety laws saves lives and saves taxpayer dollars."