Current News

Robert F. Cioffi, a native Vermonter from St. Albans, has been elected chair of the University of Vermont Board of Trustees.Cioffi is currently a venture partner at Alerion Partners, a private equity fund located in Rowayton, Connecticut. He lives in New Canaan, CT with his wife Meghan (UVM Class of 1991) and their three children.
Before joining Alerion, Cioffi was a Senior Vice President with GE Equity, a subsidiary of GE Capital Corporation. Upon graduating from UVM in 1990 with a B.A. in Political Science and a minor in Economics, Cioffi worked for the Franklin County Industrial Development Corp. In addition, Cioffi worked on the staff of former U.S. Senator James Jeffords. He later moved to New York to join the Chase Manhattan Bank. In 1998 Cioffi joined GE Equity, after receiving his M.B.A. from Duke University's Fuqua School of Business.

On Monday Senator Leahy met with leadership of Fletcher Allen Health Care, the University of Vermont and the Vermont National Guard to view a demonstration of new equipment at the hospital’s Simulator Training Program. At the event Leahy announced more than $1.7 million in funding he has secured in the federal budget for the project, which provides training to hospital nurses and doctors, university medical students and guard personnel on state of the art simulation equipment. The equipment offers realistic training experiences for medical conditions that range from birth to gunshot wounds and other severe trauma.

There are currently 32 American Recovery & Reinvestment Act (ARRA)-financed highway construction projects underway or completed in Vermont involving $85 million in funds, according to data released today by the Washington, D.C.-based American Road & Transportation Builders Association (ARTBA). The projects underway or completed have supported or are supporting 2,366 jobs in Vermont that would otherwise not exist, says ARTBA Vice President of Economics & Research Dr. Bill Buechner.
ARRA, signed into law on February 17, 2009, provided $48 billion for transportation improvements over two years, including $27.5 billion for highway, bridge and related construction projects nationwide. The law is having significant impacts on the transportation construction industry in all 50 states.

House Health Care Committee Chairman Steve Maier, D-Middlebury, has proposed legislation to prevent hospitals from putting money towards advertising. While supporters say the move would help cut the rising cost of health care, some opponents of the proposal are questioning whether such a ban would go against the constitutional right to freedom of speech, according to a story in the Burlington Free Press.

The Vermont Economic Development Authority (VEDA) has approved $36.4 million in economic development financing assistance for a variety of large and small business projects. The financing support will leverage additional private investment, generating a total of $104.6 million in economic activity throughout Vermont.
“VEDA is pleased to offer loan and other financing support to a number of commercial, renewable energy, small business, educational and agricultural initiatives,” said Jo Bradley, VEDA’s Chief Executive Officer. “These projects will bring jobs to Vermonters, and help stimulate Vermont’s economy.”
Utilizing American Recovery and Reinvestment Act (ARRA) federal stimulus funds, VEDA approved the following Recovery Zone Facility Bond issuance:

Governor Jim Douglas will be awarded the Ordre national du Québec (the National Order of Quebec) during a ceremony at the National Assembly of Québec on Thursday, March 11.
The Ordre national du Québec is the highest honor awarded by the government of Québec. Instituted in 1984, it consists of three grades – Grand Officer, Officer and Knight – and is presented to Quebecers for outstanding achievements and actions that support Québec, its language and culture. The Premier of Québec may recommend an eminent individual who is not a Québec resident to be awarded the Ordre. Governor Douglas will be awarded the Officer’s Insignia.

TransFair USA, the leading third-party certifier of Fair Trade products in the United States, today announces that it has received a $50,000 grant from Green Mountain Coffee, and a three-year commitment of $925,000 from the Green Mountain Coffee Roasters Foundation. The Green Mountain Coffee Roasters Foundation was established and is led separately from Green Mountain Coffee Roasters, Inc. (GMCR) by GMCR Founder and Chairman Bob Stiller. This generous funding will galvanize TransFair USA’s effort to grow the Fair Trade movement and establish hundreds of Fair Trade Towns across the United States by 2013.
Fair Trade is a multi-stakeholder effort to develop an alternative form of global trade that cultivates greater social justice and equity for farmers, workers, and artisans. It promises fair prices, safe working conditions, worker empowerment, market access and community investment. The Fair Trade Towns USA campaign is headquartered at and sponsored by TransFair USA.

Sovernet Communications, a leading provider of telecommunication services in Northern New England, announced several network infrastructure and equipment upgrades designed to better serve their customers. The changes will enhance both reliability and operational efficiencies, as well as bring new next-generation services to additional markets.

Secretary of Administration Neale F Lunderville announced today that Vermont’s February Revenue Figures were down substantially, especially for the General Fund, which was below the monthly target by nearly $10 million or 17.6 percent lower than anticipated. The General Fund revenues were off $15 million or 2.2 percent for the fiscal year to date. The Transportation Fund was also below the forecast for the month by $520,000 or 3.7 percent and for the year down by one-half percent. The Education Fund was up slightly for the month at $170,000 or 1.6 percent and just barely broke even for the year to date.

Jonathan Leopold, the Chief Administrative Office for the City of Burlington, has sent a Letter to the Editor of Vermont Business Magazine, saying that some statements made in a February 2010 article on Burlington Telecom were inaccurate. He begins by saying, "The story 'City Council Probes Burlington Telecom' in the February issue of VBM was a disservice to your readers and the City of Burlington. The former General Manager of BT, Mr. Tim Nulty, made numerous inaccurate statements and allegations about the finances of Burlington Telecom."
Following is the entire letter sent from Jonathan Leopold to Vermont Business Magazine in response to VBM's article published first in the February issue and then re-published on line.

Secretary of State Deb Markowitz will officially announce her candidacy for governor Monday, at a public event in Barre at the Barre Auditorium's Alumni Hall. Markowitz will tour the state Monday and Tuesday, listening to Vermonters' ideas about jump starting the economy and she will lay out her vision for economic development, education and the state's energy needs.
Source: Markowitz campaign.

Average retail gasoline prices in Vermont moved just 1.6 cents per gallon in the past week, averaging $2.79/g today. This compares with the national average that has increased 4.7 cents per gallon in the last week to $2.74/g, according to gasoline price website VermontGasPrices.com.
Including the change in gas prices in Vermont during the past week, prices today are 84.9 cents per gallon higher than the same day one year ago and are 2.4 cents per gallon higher than a month ago. The national average has increased 9.7 cents per gallon during the last month and stands 80.8 cents per gallon higher than this day a year ago.
About VermontGasPrices.com
GasBuddy.com operates over 200 live gasoline price-tracking websites, including VermontGasPrices.com. GasBuddy.com was named one of Time magazine's 50 best websites and to PC World's 100 most useful websites of 2008.
Source: VermontGasPrices.com 3.8.2010
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