Current News

The 27th Annual Vermont Travel Industry Conference will be held on April 7 & 8, 2010 at the Stoweflake Resort in Stowe, Vermont. The event will feature compelling keynote speakers, pertinent workshops on industry topics and trends, and a trade show featuring over 30 exhibitors who sell products or services to the tourism industry.
On Wednesday April 7th at 9:00 am, keynote speaker James Chung of Reach Advisors will educate the tourism industry on the Four Macro Trends and the Implications on Travel. Chung will discuss the major trends that will reshape the consumer market as it relates to the tourism industry including: generational shifts, gender differences, health and wellness behaviors, outdoor recreation trends, and household purchasing power.

Senate President Pro Tem Peter Shumlin today announced that the Senate will vote before the town meeting break on whether or not relicensing the Vermont Yankee nuclear power station to operate beyond its scheduled closing date is in the best interest of Vermonters. “It is the responsibility of the General Assembly to vote on the continued operation of Vermont Yankee,” Shumlin said in a prepared statement.

Simon Property Group, Inc. today announced that it has made a written offer to acquire General Growth Properties, Inc, owner of the Burlington Town Center mall, in a fully financed transaction valued at more than $10 billion, including approximately $9 billion in cash. This is an unsolicited or "hostile" bid that would get General Growth out of bankruptcy. It filed for protection from creditors last year after a furious expansion plan fueled by cheap credit lead to billions in debt. Simon, itself, is in a buying mode, having in December acquired another competitor, Prime Outlets' 60 outlet shopping centers for $700 million in cash and securities. General Growth owes $7 billion to unsecured creditors and $3 billion to stock holders.

Successfully concluding a review of dozens of power supply proposals received after a broad request to the regional power market, Vermont s three-largest electric utilities today announced power purchase agreements with several suppliers that will diversify the utilities power supply portfolios.

These contracts provide a solid mix of clean, renewable energy and baseload power in keeping with Vermonters preferences, Central Vermont Public Service, Green Mountain Power and Vermont Electric Cooperative said in a joint announcement. We believe these contracts offer an excellent blend of price stability and reasonable costs, environmental benefits, reliability, fuel diversity, and will largely meet Vermonters expectations.

Vermont Yankee engineers and technicians working diligently to identify the source of tritium in the plant’s groundwater continue to make progress, according to a statement from Entergy Vermont Yankee released Saturday.

Several prominent area business organizations have joined forces to create a new alliance, the Business Alliance for a Clean Lake (BACL), first announced in January 2010. The BACL will bring their member organizations to the Statehouse on Friday, February 19th, to meet with legislators and introduce them to the issues the BACL supports. They will be in the Statehouse cafeteria from 7:45 to 9:30. A brochure describing their program will be available.
Founding members of the BACL are: Franklin County Industrial Development Corporation Franklin County Regional Chamber of Commerce Friends of Northern Lake Champlain Lake Champlain Islands Chamber of Commerce Lake Champlain Regional Chamber of Commerce

Average retail gasoline prices in Vermont moved just 1.4 cents per gallon in the past week, averaging $2.75/g today. This compares with the national average that has fallen 2.9 cents per gallon in the last week to $2.62/g, according to gasoline price website VermontGasPrices.com.
Including the change in gas prices in Vermont during the past week, prices today are 77.0 cents per gallon higher than the same day one year ago and are 8.6 cents per gallon lower than a month ago. The national average has decreased 11.9 cents per gallon during the last month and stands 67.6 cents per gallon higher than this day a year ago.

Seventh Generation has been galvanizing the green revolution for decades, and over the company’s 21 years has become one of the most trusted brands of authentic, safe and environmentally responsible products for the living home. Now they are launching a campaign of words to back up decades of action, with the company’s first national integrated advertising campaign.

CCOutdoorStore.com, the online source for high quality gear and gifts for outdoor enthusiasts, announces its new ownership, the opening of a new retail outlet in Waterbury Center and the official move of the company’s headquarters from the state of Tennessee to Vermont.
“When we first got to know CCOutdoorStore.com, we knew it was a great fit for us – and for Vermont,” said Reed McCracken, Managing Partner of CCOutdoorStore.com. “With so many opportunities to enjoy the beautiful outdoors in Vermont, and such varying weather conditions, there’s no better place to base an outdoor gear store – and test all the equipment!” Located on Route 100 north of Ben & Jerry's Visitor Center and the Green Mountain Club the new store is situated to serve tourists and locals alike.

Amartya Sen, sometimes known as the Mother Teresa of Economics, though he likely wouldn t approve of that name, will be the 2010 Saint Michael s College commencement speaker with ceremonies to be held on Thursday, May 13, 2010, in the Ross Sports Center. Professor Sen, gained the Mother Teresa reference for his work on famine, human development theory, welfare economics, the underlying mechanisms of poverty, gender inequality, and political liberalism. His research has also ranged over economics philosophy and decision theory, social choice theory, development economics, public health, moral and political philosophy, and the economics of peace and war.

Burlington Telecom officials were greeted with much skepticism by regulators in their request yesterday to borrow more money from the City of Burlington's cash pool in an effort to make an interest payment on existing debt. The $386,673 interest payment to CitiCapital Municipal Finance is due Wednesday. The Vermont Public Service Board and staff did not make a final decision, but their line of questioning cast much doubt on the wisdom on borrowing more money to cover debt that the city-owned telecom company already cannot cover.
Burlington Telecom, which offers telephone, television and Internet services and has 4,600 subscribers, already owes the city $16.95 million. It is also in violation of its charter for not repaying the loan to the city within 60 days.

The Vermont Aerospace & Aviation Association (VAAA) will hold an Open House on Thursday, February 18 from 3-5 pm at the Heritage Aviation Facility, located at 228 Aviation Ave in South Burlington, next to the Burlington International Airport.
During the Open House, Governor Jim Douglas will sign a proclamation declaring February as “General Aviation Appreciation Month”, highlighting the significance the industry has on Vermont’s statewide economy. The VAAA is a division of the Vermont Chamber of Commerce which manages this association in partnership with Lt. Governor and VAAA Chair Brian Dubie, who also serves as National Chair of the Aerospace States Association. The event will be attended by general aviation (GA) leaders from around the country.