Current News

Senator Patrick Leahy (D-Vt.) announced Thursday that the final health reform package that is now headed for House and Senate votes will recognize the early investment Vermont has made in its Medicaid program, meaning more than $100 million in added funding for Vermont’s Medicaid programs over the next ten years.
The Medicaid solution for Vermont – one of the last issues to be resolved in final work on the plan -- was chiefly negotiated by Leahy with strong support from Senator Bernie Sanders (I-Vt.) and Representative Peter Welch (D-Vt.). The remedy fixes underfunding for Vermont as an “early leader” state that offers more generous Medicaid programs than much of the country.
Leahy said, “My argument throughout these negotiations was clear. Vermont should not be punished for doing the right thing. It was also a compelling argument because it is widely known that Vermont has been a leader in expanding health insurance coverage over the last 15 years.”

Vermont Governor Jim Douglas as well as federal, state and local officials will join Commonwealth Dairy officials at a groundbreaking ceremony at the site of the company s Brattleboro, Vermont plant today. The company is planning a $32 million, state-of-the-art, LEED compliant, Class II dairy processing facility that includes alternative energy sources and will be designed to accept milk from the open market as well as segregated milk streams, such as organic and local. The 39,000-square foot production facility will be built on 5.9 acres of land in the Delta Campus. The facility is expected to create at least 24 jobs within 3 years.
This is a key milestone for our vision of a world-class yogurt facility here in Vermont, said Dieter Dobousek, Commonwealth Dairy s Vice President and Chief Technical Officer. We are looking forward to being an important part of the Brattleboro and Vermont family, and you have made us feel very welcome.

Net sales of Nokian Tyres Group amounted to EUR 798.5 million (2008: EUR 1,080.9 million), down by 26.1% compared to 2008. Operating result was EUR 102.0 million (EUR 247.0 million). Earnings per share were EUR 0.47 (EUR 1.12), and result for the period was EUR 58.3 million (EUR 139.9 million). The North American operation, headquartered in Colchester, Vermont, was one of the brightest spots for the Finnish company. Net sales in North America were EUR 84.5 (EUR 80.7). Sales in North America have been helped by a recent law in Quebec requiring snow tires in winter. Nokian suffered in Scandinavia, but mostly in the Russian group, where sales were off more than EUR 200. Nokian is best known for its Hakkapeliitta brand.

Collapses in the banking sector were a major cause of the current recession. Now Congress is entertaining sweeping proposals for additional banking regulation that may have large effects on Vermont s economy. Prof. Meir Kohn of Dartmouth College will speak on Regulating the Banks: Lessons from the Recent Crisis at the Sheraton Burlington s Emerald Ballroom today, Thursday, March 18, at 5 pm.
An internationally known expert in finance, markets, banking and regulation, Prof. Kohn will autopsy the bodies left from the Crash of 2008 and answer questions from the audience. He will also address the regulatory proposals currently before Congress, and look ahead to what those changes are likely to mean for financial markets, banks, brokerages, and the economy as a whole.

According to a report filed yesterday by the Vermont Department of Health, temporary modifications for the two hydrogen recombiner steam trap drain lines are in progress at the Vermont Yankee nuclear power plant in Vernon. The modification will eliminate the failed piping in the Advanced Off-Gas (AOG) pipe tunnel that has been draining directly into the tunnel and to the AOG pit sump through the floor drain, and will provide a direct path from the steam trap drain lines to the AOG drain tank. A more substantial enclosure over the AOG pipe tunnel excavation is also being constructed. This is necessary because the excavation will be open until the scheduled April and May 2010 refueling outage. During the outage, workers will more thoroughly clean out the AOG pipe tunnel to prevent the tunnel's floor drain from getting clogged with debris still left in the pipe tunnel.

Burton announced Tuesday that it will shift premium snowboard production from its small, Vermont-based Burton Manufacturing Center (BMC) to Austria, where the company has been building snowboards for over 25 years. Product design and development will still be home-grown in Vermont, where the company will relocate its snowboard prototyping resources from BMC into a new, purely R&D-driven prototype facility at its global headquarters in Burlington. Burton said 43 jobs will be lost, leaving 377 in Vermont and 900 worldwide.
BMC, located in South Burlington, Vermont is slated to close in June of this year. Burton's premium factory in Austria already has the high-end technology and capacity to increase its production. Forty-three employees will be affected by BMC's closure, and Burton is working closely with the Vermont Department of Labor's Rapid Response program to assist these employees with unemployment and re-employment resources.

Tim Burke, of White + Burke Real Estate Investment Advisors Inc. in Burlington, is pleased to announce the signing of a long-term lease with Hannaford Bros. Co. for the former P&C supermarket building in Bradford, Vermont. Hannaford will temporarily operate the current store while it submits plans to construct a new store at the same location. Hannaford Supermarkets, established in 1883, has 171 stores in Maine, Massachusetts, New Hampshire, New York, and Vermont and employs more than 26,000 associates.
Burke represented the Tenant, Hannaford Bros. Co. in the lease transaction. Yves Bradley of Pomerleau Real Estate represented the landlord, Centurion Properties, Inc.
White + Burke Real Estate Investment Advisors specializes in commercial real estate consulting,
permitting, development, and brokerage.
Source: Burlington, VT (3/9/10) - Tim Burke, of White + Burke Real Estate Investment Advisors Inc

Rock of Ages Corporation (NASDAQ:ROAC) today announced financial results for the fourth quarter and 2009, highlighted by a return to profitability for the quarter and year versus losses for the prior year periods, an increase in cash generated from operations to approximately $10,800,000 for 2009 compared to about $2,300,000 for 2008, and the reduction of total debt by an additional $7,500,000 in 2009 following the $8,000,000 debt reduction achieved in 2008.
We are optimistic that we can grow both our quarry and manufacturing segments in 2010, even as we maintain our tight control over operating costs and continue deleveraging our balance sheet

Vermont Yankee reports that engineers and technicians continue their investigation into the source of tritium in the plant’s groundwater and have commenced soil and groundwater remediation planning. Tritium, a radioactive isotope of hydrogen associated with nuclear fission, was first identified in a test well at the nuclear power plant in Vernon in January.

The New England Board of Higher Education (NEBHE) honored Champlain College President David F Finney, Vermont State Rep. Martha P. Heath and the Quantum Leap program at Bennington College at its 2010 New England Higher Education Excellence Awards earlier this month.
Each year, NEBHE presents Regional Excellence Awards to individuals and organizations that have shown exceptional leadership on behalf of higher education and the advancement of educational opportunity. The organization also presents State Merit Awards to honor the innovative work of organizations, institutions or individuals in each New England state. The awards were presented March 5 at The New England Higher Education Excellence Awards dinner at Boston’s Longwharf Marriott Hotel.

The Vermont Troopers Association (VTA) announced today that its members have ratified its first collective bargaining agreement with the State of Vermont. The VTA separated from the Vermont State Employees Association in the fall and formed its own organization made up exclusively of state police officers.
“From the outset we knew we were negotiating our first contract in the face of some enormous challenges,” said Michael O’Neil, VTA President. Such challenges included a difficult economic outlook and pressure to follow the course set by VSEA in its own negotiations.

Renewable Energy Vermont (REV), a Montpelier-based nonprofit representing more than 300 energy companies, banks, law firms, colleges and others working in the growing sustainable energy field, announced Tuesday the hiring of longtime journalist Susan Allen as executive director."We are thrilled to have Sue join us at this juncture. Her reputation and connections as well her spirit will continue and expand our efforts to bring renewable energy to the fore," said Lawrence Mott, chairman of the REV Board of Directors.Allen is well known in Vermont after serving as press secretary to Gov. Howard Dean for six years, and as host of the live television program "Call the Governor" with Gov. James Douglas on Vermont Public Television.Allen started her journalism career at the then-fledgling USA TODAY in Arlington, Va., in 1982.