Current News

For the week of October 23, 2010, there were 1.054 new regular benefit claims for Unemployment Insurance, an increase of 302 from the week before, as claims are trending upward in October. Altogether 7,697 new and continuing claims were filed, an increase of 292 from a week ago and 2,284 fewer than a year earlier. The Department also processed 2,706 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 81 fewer than a week ago. In addition, there were 1,520 Second Tier claims for benefits processed under the EUC08 program, which is an increase of 4 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

Attorney General William H Sorrell announced today that Frank Perretta, age 52, has pleaded nolo contendere to a charge of animal cruelty in connection with the operation of Bushway Packing, Inc.
Perretta entered the plea today in Grand Isle County pursuant to a plea agreement with the State. Under the terms of the agreement, Perretta will receive a suspended sentence of zero to one year, pay a fine of $2,000 and will complete 120 hours of community service, not involving work with animals. In addition, the court entered an order that Perretta forfeit any future right to participate in any animal husbandry or slaughterhouse activity.

A new report on Vermont’s non-profit affordable housing providers says the state should consider consolidating them and introducing performance measures to increase efficiency and accountability. The report, which was commissioned as a result of the ‘Tiger Team’ efforts by the Douglas administration to find efficiencies and savings in state government, recommends combining the Vermont State Housing Agency; the Vermont Housing Finance Agency; and the affordable housing programs of the Vermont Housing Conservation Board and the Department of Economic, Housing and Community Development into one agency.
Noting that the non-profit agencies duplicate many functions and each has their own board of directors, offices, and staff, the report estimates conservatively that the annual savings of consolidation would be $450,000, which could be used to build more affordable housing.
The report stated:

The Mount Family Group Ltd, a Burlington icon since 1982, has transitioned
to its second generation of ownership. James Mount of Colchester and Karen
Mount of Williston have purchased the stock in the company from David and
Frances Mount who have owned the company since 1982. David Mount will
remain with the company as CEO until December and thereafter will serve as
a member of the Board of Directors and will advise the company as needed.
Fran Mount has retired from active management.
Mount Family Group Ltd. is one of the largest independently owned
operators of staffing service companies in the New York and New England
region. The company operates 11 Westaff franchises in Vermont, New
Hampshire, New York and Rhode Island. It operates two Remedy Intelligent
Staffing franchises in Massachusetts. Both Westaff and Remedy are
franchised by the Select Family of Staffing Companies headquartered in

FairPoint submitted supplemental financial information to the Public Service Board last week for its consideration in FairPoint’s still-pending Regulatory Settlement and Change of Control proceeding, the approval of which will allow the company to emerge from Chapter 11.
The Vermont Public Service Board’s approval is one of the final steps in this process. FairPoint already has received approvals from Maine and New Hampshire regulators, creditors, represented employees and other states where it does business and approval was required. FairPoint is also pursuing approval from the Federal Communications Commission.
FairPoint asked the Vermont Public Service Board to consider FairPoint’s additional information in an expedited manner, with a final decision to be made by November 23.

BURLINGTON--Peter Shumlin and the Vermont Democratic Party today announced that Vice President Joseph Biden will visit Vermont on Monday, November 1 for a daytime rally. No other details about the visit have been finalized. Vice President Biden has been a champion for middle class Americans. The Vice President has been tasked with implementing the American Recovery and Reinvestment Act, helping to rebuild our economy and laying the foundation for a sustainable economic future. He is also the chair of the administration’s Middle Class Task Force, a major White House initiative targeted at raising the living standards of middle class families in America.
Details of the visit will be released during this coming week. Media credentialing for the event will be through the Vermont Democratic Party. Details for the general public, including how Vermonters can get tickets to the event, will be released mid week.

The Vermont Attorney General’s Office filed two civil lawsuits yesterday on behalf of the State of Vermont in Vermont Superior Court, Washington Unit, against the Republican Governor's Association (’RGA’) and Green Mountain Future (’GMF’) seeking enforcement of Vermont’s campaign finance laws.

Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of $4.50 million and $12.92 million, or diluted earnings per share of $0.73 and $2.10 for the quarter and nine months ended September 30, 2010, respectively. This compares with net income of $3.71 million and $8.68 million or diluted earnings per share of $0.61 and $1.42 for the same periods in 2009. Merchants previously announced the declaration of a dividend of $0.28 per share, payable November 18, 2010, to shareholders of record as of November 4, 2010. The return on average assets was 1.25% and 1.21% for the quarter and nine months ended September 30, 2010, respectively, compared to 1.07% and 0.85% for the same periods in 2009. The return on average equity was 18.39% and 18.14% for the quarter and nine months ended September 30, 2010, respectively, compared to 17.37% and 13.93% for the same periods in 2009.

Governor Jim Douglas announced that Vermont State Parks reported the busiest operating season in 15 years. As the regular season came to a close on Columbus Day, State Park attendance was up 15 percent over 2009 as 836,984 visitors enjoyed Vermont beaches, mountains, campgrounds and trails.
‘As Park staff are cleaning up and turning off the lights for the last time until next spring, they have much to celebrate, as do all Vermonters,’ said Governor Douglas. ‘Vermont State Parks are a fun and affordable get-a-way that more people are now taking advantage of that thanks to foresight, innovative marketing and smart investments at the Department of Forest, Parks and Recreation. Vermont capitalized on a great season, boosting our local economies around the state at the same time.’

US Senator Patrick Leahy Monday told members of the Friends of Algiers Village and project partners working to reopen the Guilford Country Store that he has secured a $65,000 grant in partnership with the Preservation Trust of Vermont to help with their efforts. During a news conference at the store, leadership from the Friends of Algiers Village estimated the store would reopen next summer.
‘I have long believed that Vermont’s village stores help define our state and provide neighbors a place to catch up on local politics and on the weather -- the most important of Vermont concerns ‘ and on each others’ lives and families,’ said Leahy during the news conference. ‘I am proud to stand with you today as part of your effort to reopen the heartbeat of this village, the Guilford Country Store.’

Vermont Energy Investment Corporation, in partnership with Vermont Housing & Conservation Board and Champlain Housing Trust, has received a $350,000 grant from the Doris Duke Charitable Foundation. The two-year grant will be used to demonstrate how deep energy efficiency retrofits in single- and multi-family residences can make housing permanently and comprehensively affordable by reducing energy usage and costs.
In addition to establishing energy usage as a significant component of housing affordability, the project will also show how various sources of government funding might be harnessed to finance energy efficiency retrofits.

A temporary, two-lane bridge has been launched and Route 36 in Fairfield has been reopened. Also, Route 108 through Smugglers' Notch was was reopened Monday. At some point VTrans will will close the roadway for the winter.
The Vermont Agency of Transportation had closed a section of Route 36 in Fairfield just east of Swamp Road due to a failed culvert. The road was expected to be closed into November until the Agency erected a temporary bridge, which subsequently went in ahead of schedule.
The average daily traffic for this section of Route 36, which is located 1.7 miles east of the St. Albans/Fairfield town line, is about 2,700 vehicles per day.
Source: VTrans. 10.22.2010