Current News

Senator Bernie Sanders will host US Department of Agriculture Secretary Tom Vilsack at a dairy town meeting at the Burlington Hilton at 10 am on Saturday, February 13, 2010. Sanders also will host Vilsack as the keynote speaker at the Northeast Organic Farming Association annual conference at the University of Vermont’s Ira Allen Chapel in Burlington at 11:45 a.m. Sen. Patrick Leahy will host the secretary as he speaks to the St. Albans Cooperative Creamery Annual Meeting in St. Albans at 1:15 p.m. Vilsack, Leahy, Sanders and Rep. Peter Welch also will meet with Vermont anti-hunger leaders.
What: Town Meeting with Secretary of Agriculture Tom Vilsack

Who: Senator Bernie Sanders, Senator Patrick Leahy, Secretary of Agriculture Tom Vilsack, Congressman Peter Welch, and Vermont Agriculture Secretary Roger Albee

Almost $12 million was awarded today to help Vermont doctors and hospitals move from paper records to state-of-the-art computerized medical records. The US Department of Health and Human Services awarded the Vermont Department of Human Services more than $5 million. Another $6.8 million will go to Vermont Information Technology Leaders, Inc. The funds are from the economic recovery program that Congress approved last year.
VITL was designated as a Health Information Technology Regional Extension Center by Dr David Blumenthal, the national coordinator for health information technology. VITL is one of 32 centers designated nationwide, assisting health care organizations to computerize medical records and use the technology to provide better care.

Ledyard Financial Group, Inc. (ticker symbol LFGP), the holding company for Ledyard National Bank, reported net income for the year ended December 31, 2009 of $1,780,380, or $1.74 per share compared to $2,027,744 or $1.99 per share for the same period in 2008. Net Income for the quarter ended December 31, 2009 was $562,305, or $0.55 per share compared to a loss of ($594,795) or ($.58) per share for the same period in 2008. Our full year results reflect the strength of our two basic businesses, community banking and wealth advisory services. We have continued to invest in both during the year, which positions us well for 2010. Some of the highlights from the year were:

The administration of Burlington Mayor Bob Kiss attempted to edit a report on Burlington Telecom's financial situation before it was made public on Wednesday. The committee which drafted the report did not include the suggested changes in the final version. The attempt by the administration to suggest alterations to the report outside of a public City Council meeting caused concern, as the committee had promised to keep its work public when it was appointed by City Council in December.
The seven-member committee, along with two outside consultants, concluded in the report that based on its current business plan, BT is not able to pay back its debt of $51 million. They also advised against the company borrowing any more money. BT's debt includes $33.5 million to CitiCapital, and $17 million to the city. The report advises that BT should separate from the city and become a private corporation after finding a joint-venture partner.

Senator Patrick Leahy (D-VT) on Thursday said he will introduce legislation to address the US Department of Labor’s new rules that exclude the dairy industry from eligibility for certification in the seasonal agricultural worker program, called H-2A visas.

Now that Vermont has had to start borrowing federal money in order to pay unemployment checks, the Vermont Senate Economic Development committee is working to reform the state's bankrupt unemployment fund. The committee is trying to strike a balance between the financial burden of the reform on employers and labor. The proposed plan would raise unemployment taxes for businesses over a three-year period, bringing it from the current base of $10,000 up to $18,000. Maximum weekly benefit checks for the unemployed would go down from $425 to $400, and there would also be more strict guidelines around who may qualify for benefits.
(Source: WCAX)

Secretary of Administration Neale F. Lunderville released the January 2010 General Fund Revenues today. January is the 7th month of FY 2010. General Fund revenues totaled $114.25 million for January 2010, -$5.41 million or -4.52% below the $119.66 million consensus revenue forecast for the month. Year to date, General Fund revenues of $628.66 million were -$5.41 million and -0.85% below the year to date FY 2010 target of $634.07 million.
Although one month’s results following the adoption of the revised Consensus Revenue Forecast are insufficient to indicate a trend, I am concerned that the shortfall occurred in Personal Income Taxes.

Despite plans to return this spring, AirTran Airways will not be serving Burlington International Airport this year. According to a story in the Burlington Free Press, AirTran informed airport officials of its decision last week, citing a lack of equipment and too many other commitments.
After cancelling service to the airport last September, AirTran had planned to resume flights out of Burlington in the spring of this year. The airline provided a direct flight from Burlington to Baltimore. Although nonstop flights are still available to Washington, DC through United and US Airways, the cost for these services is higher.
AirTran has expanded to other markets, including Grand Rapids, MI. The airline's return to Burlington will be revisited in 2011.

In an effort to attract more Canadian travelers, Plattsburgh International Airport will use federal subsidies to fly larger planes to Boston, according to a story in the Burlington Free Press. The upgrade presents competition to Burlington International Airport, which currently does not offer direct service to Boston.
Colgan Air, Inc plans to fly 34-passenger turboprop planes between Plattsburgh and Boston up to three times daily. Currently, Plattsburgh's service to Boston is through Cape Air, which covers the route using nine-passenger aircraft. $2.1 million yearly in subsidies provided by the Essential Air Service program will pay for the new service.

Weekly unemployment claims fell last week, continuing a downward trend since a spike at the end of 2009. For the week of February 6, 2010, there were 947 new regular benefit claims for Unemployment Insurance last week, a decrease of 125 from the week before. Altogether 14,826 new and continuing claims were filed, a decrease of 135 from a week ago and 1,968 fewer than a year earlier. The Department also processed 5,045 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 14 fewer than a week ago. In addition, there were 3,478 Second Tier claims for benefits processed under the EUC08 program, which is an increase of 108 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

Raising Vermont's cigarette tax by $1 per pack would bring in $6.7 million in new annual revenue to help close the state's budget shortfall, while also reducing smoking and saving lives, according to a national report released today by a coalition of public health organizations.
The report comes as states grapple with unprecedented budget shortfalls and face devastating cuts to education, health care and other essential public services. The report details the revenue and health benefits to each state of a $1 cigarette tax increase.
In Vermont, a $1 cigarette tax increase would also:

Prevent 3,600 kids from becoming smokers;
Spur 1,900 current adult smokers to quit;
Save 1,600 residents from premature, smoking-caused deaths; and
Save $81.1 million in health care costs.

Burlington attorneys David J. Sylvester and William J. Dodge, directors at Downs Rachlin Martin PLLC, have assumed new leadership positions within the firm: Sylvester as chair of the Business Law Practice Group and Dodge as recruiting director. The announcement was made recently by the firm’s managing partner, Paul H. Ode, Jr.
“It is no small task to lead a practice group, while maintaining an active law practice,” said Ode. “David has ably led our recruitment efforts for many years, and I am pleased that he has agreed to take on this new management role. I am equally delighted to have Will’s energetic leadership as recruiting director to ensure that DRM’s strong emphasis on recruiting top candidates from quality law schools continues.”