Current News

In a letter sent to media today, Jason Gibbs, commissioner of the Vermont Department of Forests, Parks and Recreation, announced he is stepping down from that position May 14. There has been speculation in Montpelier that he will seek elective office this fall, perhaps as a Republican candidate for secretary of state. That office is currently held by Deb Markowitz who is running instead for governor.
Gibbs initially joined the Douglas Administration as the governor's first press secretary, before moving on to the Parks Department post. He previously worked at Fletcher Allen Health Care in public affairs.
The letter announcing his resignation follows:
Dear Colleague:
As the legislative session draws to a close, I write to notify you that I will be stepping down as commissioner effective May 14th to pursue other options.

Wainwright Bank & Trust Company (Nasdaq: WAIN) has provided $10 million in financing to Commonwealth Dairy, LLC for the construction of a state-of-the-art yogurt production processing facility in Brattleboro, Vermont.
Commonwealth Dairy is a joint venture between Ehrmann USA, a subsidiary of family-run Ehrmann AG, an international yogurt company based in Germany with annual revenues in excess of $1 billion, and Commonwealth Yogurt. The new facility will be LEED (Leadership in Energy and Environmental Design) compliant as determined by the U.S. Green Building Council.
Anticipated to be operational in early 2011, Commonwealth Dairy will utilize the latest technology and automated production processes. All-natural, rBST-free and organic milk will be used in manufacturing. A projected 24 new jobs will be created within the first three years of operation and a portion of net profits will be returned directly to local dairy farmers.

(By James Dwinell. Vermont Business Magazine) Will Hunter of Cavendish wrote to the Rutland Herald last month, At least we have not touched a penny of our rainy day funds. Perhaps our leaders can print up copies of the bank statements showing the millions that we are hoarding in the bank. I would like to have a copy to look at to make me feel better as I watch my beloved state fall apart.
This month Tom Davis of Barre and son of Governor Deane Davis wrote to the Burlington Free Press, Is there anyone on the planet that honestly believes that by rearranging the chairs on the Titanic, aka the Vermont budget, that they can save $38 million? It is raining; we have a rainy day fund, use it!

Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) today announced that its Board of Directors has approved a three-for-one stock split to be effected in the form of a stock dividend. The company also reported revenue grew 68 percent in the second quarter.
“This stock dividend allows us to share our success with our loyal shareholders and underscores our confidence in the strength of our Company and its prospects for the future”
The Company will distribute two additional shares of its common stock for every one share of common stock to all shareholders of record at the close of business on Monday, May 10, 2010. The shares will be distributed on Monday, May 17, 2010 by the Company’s transfer agent, Continental Stock Transfer, so that the new shares issued will equal three times the pre-split number. The Company’s common stock will begin trading on a split-adjusted basis on Tuesday, May 18, 2010 at the Monday, May 17, 2010 closing price divided by three.

The Carbon War Room, a non-profit organization that harnesses the power of entrepreneurs to implement market-driven solutions to climate change, today announced the first wave of cities selected to participate in the Green Capital Global Challenge.
Participant cities were selected from across the United States, Canada and Europe, after the Carbon War Room received an overwhelming
number of applications from cities around the world. They include: Atlanta, Babylon (New York), Burlington(Vermont), Charleston (South Carolina), Chicago, Gainesville (Florida), New York City, Portland (Oregon), San Francisco,Washington D.C., Toronto, Vancouver, London, Birmingham (England), and Copenhagen.

Vermont Council for Quality announced today that Rutland Regional Medical Center has achieved the 2009 Governor’s Award for Performance Excellence. Rutland Regional Medical Center will be honored at Vermont Council for Quality’s 12th Annual Recognition and Award Ceremony on May 21, 2010 at the Lake Morey Resort in Fairlee, Vermont.
“Rutland Regional Medical Center is proud to have achieved the Governor’s Award for Performance Excellence. This displays the caliber of staff and commitment to provide quality patient care we have at our organization. Through all of our hard work and dedication we have reached another milestone in our Journey to Excellence.” Said Thomas W. Huebner, President, Rutland Regional Medical Center.

Business projects totaling more than $16 million will receive $6.1 million in financing assistance from the Vermont Economic Development Authority (VEDA).
“VEDA is pleased to offer financing assistance to a wide variety of economic development projects,” said Jo Bradley, the Authority’s CEO. “Investments are being made in regional industrial parks for business start-up and expansion projects, and a number of small business, agricultural and tourism-based initiatives have been approved for direct VEDA financing, as well.”
Projects approved include:
· Franklin County Industrial Development Corporation (FCIDC), St. Albans –Financing of $1.76 million was approved to support FCIDC’s plans to make infrastructure improvements to their new 93-acre industrial park expansion site. The $2.3 million project will extend road and services from the existing park to the expansion site, creating a number of new lots for sale and commercial development.

At the Sunward solar manufacturing facility in Winooski today, the Vermont Department of Forests, Parks and Recreation (FPR) and Governor Jim Douglas kicked off a new initiative offering Vermont companies the opportunity to demonstrate their newest renewable energy and energy conservation products in the Vermont State Park system.
The new initiative—dubbed the Vermont State Parks Innovation Challenge—is an opportunity for Vermont’s energy companies to connect with park visitors, and benefit from the Vermont State Parks brand, while making a contribution to an important state resource.
Sunward, one of Vermont’s premier solar hot water companies, will be the first official innovation partner. All told, the company will donate a solar hot water system with an 80 gallon storage tank and a timber frame ground mount option, with a total retail value of approximately $11,000.

MVP Health Care announced today that it is taking steps to prevent a gap in health insurance coverage for many young adults in New York, Vermont and New Hampshire. MVP’s action means that dependents up to age 26 who are currently covered on their parents’ health benefit plans will retain their coverage until the dependent coverage provisions of Federal health care reform take effect beginning in September.

In the world of finance, “having skin in the game” means that a player has put his own assets at risk to make a deal produce a profit. What assets does Vermont bring to the economic table? After a distinguished career on Wall Street, Bruce Lisman has some powerful ideas to share about how his native state can become an economic powerhouse.
Lisman will speak on "How Vermont can Become its Own Version of an Economic Powerhouse Without Abandoning its Values," on Thursday, May 13, 2010, from 5-6:30pm at the Sheraton Burlington Conference Center – Diamond Ballroom. There is no charge and reservations are not required. His talk is part of the Sheraton Economic Series 2010 presented by the Ethan Allen Institute.
After a long and sparkling career in international finance, native Vermonter Bruce Lisman retired in 2009 as Chairman of the JP Morgan Chase Global Equity Division.

According to Genworth's 2010 Cost of Care Survey, home care costs, as well as costs of most other long term care services, are higher in Vermont than they are nationally. The median annual rate for home care costs in Vermont is $48,048 statewide, 11 percent greater than the median annual rate of $43,472 nationally.(1) Vermont, along with Delaware and Utah, is the 14th most expensive state for home care services.
This is important to note given that a majority of Americans prefer to receive care in the home. According to another Genworth survey conducted earlier this year, when asked to identify the setting most preferred to receive long term care, 78 percent chose the home; 18 percent chose assisted living, and only 2 percent selected a nursing home.(2)

Sally Laughlin, a leading wildlife advocate and scientist whose work was instrumental in restoring three species of endangered birds in Vermont, was presented the first CVPS-Zetterstrom Environmental Award today at a Statehouse ceremony.
The award, named for famed osprey advocate Meeri Zetterstrom, includes a $2,500 cash award to support further environmental work.
“As we considered more than a dozen nominees, Sally Laughlin’s tenacity, focus and strength reminded many of us of Meeri, who exhibited tremendous determination and grace,” CVPS President Bob Young said. “They have both demonstrated a love for Vermont and its wildlife that few can match, and a willingness to go to great lengths to protect and assist birds, for their sake and ours.”