Current News

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.”

Ben & Jerry s CEO and VP Global Brand Development, Walt Freese, has decided to resign from the company to pursue other values-led business and investment opportunities. At the company s request, Walt has agreed to continue to lead Ben & Jerry s and support a seamless transition until his exit at the end of March. Since joining Ben & Jerry s and Unilever over 8 years ago, Walt and his management team have been instrumental in returning Ben & Jerry s to its heritage of leadership in progressive social and environmental values.
Walt has done an outstanding job, said John LeBoutillier, Unilever s SVP Foods US. We wish Walt all the best in his future endeavors.
About Ben & Jerry's

As part of its continuing network investment to support growing demand for advanced mobile devices and applications, AT&T* today announced the activation of new 3G cell sites in Barreand Montpelier that will enhance coverage for area residents and businesses. With 3G speeds, AT&T customers can surf the Web, download files faster, and enjoy the very latest interactive mobile applications.
"Vermonters welcome AT&T's introduction of 3G capabilities to the capital region of the state," said Sen. Ann E. Cummingsof Montpelier, chair of the Senate Finance Committee. "It is critical that we offer them the latest technologies and services, and AT&T's investment in a more robust wireless network here and in other areas of Vermont will help attract business and strengthen the state's economy."

The Vermont Economic Development Authority (VEDA) approved $48.4 million in financing for commercial, agricultural, technology, educational, renewable energy, and small business projects throughout Vermont. Among the recipients are Green Mountain Power (Colchester), Heritage Flight (South Burlington); Southern Vermont College (Bennington); Skinny Pancake (Burlington); and Queen City Printers (Burlington).
“VEDA is pleased to provide financing support to such a variety of new business projects, especially during what remains a difficult economy,” said Jo Bradley, VEDA’s Chief Executive Officer. “Jobs will be sustained and new jobs created, and that growth is critically important for Vermonters.”
Among the projects approved by VEDA:

Governor Jim Douglas today released his recommendation to abolish 55 state boards and commissions and modify six others. The Governor s proposal would streamline bureaucracy and allow state workers to focus more time on their core duties.
Regardless of our fiscal situation, we must always look for ways to make state government more efficient and save taxpayer money, said Governor Douglas. This is an important effort to modernize state government making it sustainable for the years to come.
The recommendations are part of the Administration s Tiger Team response to the projected $150 million shortfall in the FY 2011 budget. This Team led the effort to take a fresh look the 300 state boards and commissions.

As elevated levels of radioactive isotopes continue to leak into groundwater surrounding the Vermont Yankee nuclear power plant, one of Vermont’s leading environmental organizations today filed a motion to intervene in the docket before the Public Service Board on the matter.
The Vermont Natural Resources Council cites the organization’s interest in protecting the state’s groundwater – a resource legally held in trust for the common good of all Vermonters –and the critical need to assure the state interprets the new groundwater public trust law correctly.

Energy-smart building is on the rise in Vermont. This year, Efficiency Vermont experienced a notable increase in entries to its Best of the Best Awards, honoring the best in energy-efficient commercial and residential design and construction in Vermont. Award recipients will be recognized at Efficiency Vermont s 2010 Better Buildings by Design Conference, taking place on Wednesday and Thursday February 10 and 11, 2010, in Burlington. The conference focuses on energy-efficient building design, construction and renovation and is attended by more than 1,000+ people.
Vermont builders and contractors entered their work in three areas of energy efficiency: commercial new construction and major renovation, residential new construction and residential renovation. In just the commercial category, Efficiency Vermont saw a 50 percent increase in entries.