Current News

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.

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: