Current News

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.

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.