Current News

By James Dwinell. A tour of China? Wow, as a youth in school, China was not even on the map, having ‘disappeared’ by decree after the Mao’s liberation. And yet here I was, scrambling to obtain a visa, update my shots, print business cards in Chinese, purchase tickets, and familiarize myself with the EB-5 rules.
The basic conditions of the EB-5 program are: a foreign national may make an at risk equity $500,000 investment in an American enterprise and in return receive temporary green cards for himself, his/her spouse, and their children. Each potential investor must be cleared by the American government and prove that his $500,000 was gained legitimately and that he had this $500,000 asset for as least five years.

Comcast, one of the nation’s leading providers of entertainment, information and communications products and services, today announced the launch of its wireless data service in Vermont, as the company continues its nationwide rollout of XFINITY Internet 2go.
In its initial offering, Comcast’s XFINITY Internet 2go is a third-generation or 3G wireless data service that provides nationwide wireless Internet service via a wireless data card. Comcast is now offering this wireless service bundled with one or more of its popular high-speed Internet, digital cable or voice products, providing mobile broadband wherever and whenever customers need to be connected. By the end of the year, Comcast will also offer XFINITY Internet 2go as a fourth-generation or 4G wireless high-speed data service via the Clearwire network in the Vermont market.

The Vermont Yankee Nuclear Power Plant in Vernon commenced a plant shutdown at approximately 7 pm Sunday night. On Sunday plant operators identified leakage of approximately 60 drops per minute from a system pipe. Subsequent investigation by technicians and engineers identified the leak of radioactive water to be in the feedwater system piping. The leak is within the containment area.
Because the leak is in a 24-inch piping section which cannot be repaired with the plant in operation, VY decided to take the plant out of service to perform a repair. At this time it is not sure when the plant will go back on line.
Plant spokesman Larry Smith sent a statement saying that the repair work to the pipe began Monday evening. The leak, which was identified late Saturday by plant operators, was found to be coming from a two-inch access plug in the pipe located in the feed pump room of the plant.

Lake Champlain Ferries is pleased to announce that it has taken delivery of a 216-foot vehicle / passenger ferry named the Raymond C. Pecor Jr., built for them by Eastern Marine Shipbuilding Group of Panama City Florida.
John W. Gilbert Associates of Hingham Mass designed the vessel with a passenger capacity of 200 and the vehicle load capacity of 220 long tons. The main engines are 1,000-hp Caterpillar 3508Cs and there are two 54-kW Caterpillar gensets. Speed is approximately 10 knots.
The Raymond C. Pecor Jr, is a sister vessel to the M/V Cumberland, which Eastern built and delivered in 2000. She will join Lake Champlain Transportation’s fleet of eleven vessels after it is re-assembled in Burlington. It is expected to be operating by the first of the New Year.
The vessel will make its journey up the Hudson and through the Champlain Canal, where the pilothouse and lounge will be dismantled and stored on the deck to clear overhead obstructions.

Central Vermont Public Service (NYSE: CV) reported consolidated earnings today of $15.6 million, or $1.27 per diluted share of common stock, for the first nine months of 2010, compared to $18.6 million, or $1.57 per diluted share of common stock, for the same period in 2009.
CV reported third-quarter 2010 consolidated earnings of $10 million, or 79 cents per diluted share of common stock, compared to $6.2 million, or 52 cents per diluted share of common stock, for the same period last year. (SEE TABLES BELOW)

‘We continue to make steady progress on achieving our 2010 earnings guidance,’ President Bob Young said. ‘Although we had sustained storm activity throughout the year, unplanned costs of major storms are deferrable under our Alternative Regulation Plan so the impact of storms on earnings for the nine months is tempered. We also saw a resurgence in retail demand in the third quarter due to warmer weather.’

Vermont Railway, Inc, a Burlington-based company that operates rail lines throughout Vermont, has agreed to pay $70,000 in civil penalties and $50,000 to fund a Supplemental Environmental Project (SEP) to settle claims that the company violated Vermont’s hazardous waste management laws at its Burlington and Rutland facilities.
‘Companies handling hazardous materials and wastes in Vermont must comply with the State environmental laws to protect the public and the environment,’ said Attorney General William H. Sorrell. "Companies that fail to follow the law will be held accountable," Attorney General Sorrell added.

Financial security and access to resources is the number one predictor of whether domestic violence victims will stay or leave an abusive relationship, according to recent research. A new partnership between The Allstate Foundation and the Vermont Network Against Domestic and Sexual Violence will make that choice a little easier. The Allstate Foundation Domestic Violence Program will award $54,000 to the Vermont Network Against Domestic and Sexual Violence to support economic empowerment strategies for survivors.

For the week of October 30, 2010, there were 1.081 new regular benefit claims for Unemployment Insurance, an increase of 27 from the week before, as claims are trending upward in October. Altogether 8,058 new and continuing claims were filed, an increase of 361 from a week ago and 2,053 fewer than a year earlier. The Department also processed 2,217 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 98 more than a week ago. In addition, there were 829 Second Tier claims for benefits processed under the EUC08 program, which is a decrease of 106 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

Fall enrollment at Goddard College is the highest it’s been in 30 years, with the College welcoming 804 students this semester.
‘Our low-residency format makes Goddard College accessible to adults especially in challenging economic times,’ said Josh Castle, Associate Academic Dean and Registrar of the Plainfield institution. The College has consistently grown by 4-5 percent each academic year for the last seven years.
The enrollment growth comes at a time when the College is also welcoming new leadership. Barbara Vacarr assumed the presidency in July 2010. Recently, Marianne Reiff was hired as the Interim Academic Vice President and Steve Friedman was elected as the Chair of the Board of Trustees.

The Vermont Department of Labor (VDOL) announced today upcoming changes that will occur with the Federal Emergency Unemployment Compensation 2008 (EUC 08) program.
As of November 13, 2010, EUC08 Tier 3 will be phased out in Vermont. This results from the October unemployment rate declining to 5.8 percent, which brought Vermont’s three month average unemployment rate down to 5.9 percent, a level that is below the 6.0 percent federal threshold required for Tier 3.
‘Based on the Federal criteria, Vermont will soon no longer be able to qualify individuals for Tier 3 extended benefits,’ commented Acting Labor Commissioner, Valerie Rickert. ‘Vermont has the fifth lowest unemployment rate in the nation but this is of little consolation to individuals unable to find work. The Vermont Department of Labor continues to work with job seekers and employers alike to improve employment outcomes,’ added Acting Commissioner Rickert.

By James Dwinell. During his weekly press conference this afternoon, Governor Douglas was asked what he would do when his term was up. He said he had options but had not made any decisions and was still looking.
However, after the press conference, Douglas was answering questions from a group of reporters and said, "Oh, by the way, I have agreed to teach a Vermont government and politics course during the January intensive at Middlebury College. Governor Kunin did the same and I have been reviewing what she did.
"I don't want to experience what I did when my secretary of state years ended in 1991. I remember waking up Friday morning with nothing to do and it terrified me.

Green Mountain Power has flipped the switch on three new solar projects, bringing its total solar installations to five and exceeding its goal of installing and helping its customers install 10,000 solar panels in 1,000 days.
These newest projects include the solar orchard at Shelburne Farms, the roof of the GMP Montpelier Service Center, and a project that is currently the state's largest, next to one of GMP's fossil fuel generating plants in Berlin. All three were designed and installed by Alteris Renewables, Inc., of Montpelier.
"We are proud to have topped our 10,000 solar panel goal," President and CEO Mary Powell said. "We are now at 14,000 panels and aiming high. Our customers clearly want more solar and we are determined to help provide it."