Current News

Governor Douglas today announced that he has appointed the State Representative from Pittsford, Peg Flory, to the State Senate. Flory, a Republican, replaces Republican Senator Hull Maynard who retired last month.
“It is an honor to appoint Peg to the State Senate,” said Governor Douglas. “Peg is a great leader who has represented the people in her district well over the last ten years. The people of Rutland Country will benefit from Peg’s dedication, passion and commitment to her constituents. I know that Peg will continue to champion legislation that will help grow our economy and support our struggling families.”

Sen. Patrick Leahy (D-Vt.), Sen. Bernie Sanders (I-Vt.) and Congressman Peter Welch (D-Vt.) announced Monday the nominations of 29 Vermont high school students for appointments to the U.S. Service Academies. Vermonters nominated by the delegation include applicants to the U.S. Military Academy at West Point, the U.S. Naval Academy, the U.S. Air Force Academy, or the U.S. Merchant Marine Academy. Congressional nominations are required for applications to the prestigious academy programs. Those students offered appointments will receive full scholarships and can graduate as commissioned officers in the military.

At a series of public information meetings held on Saturday, officials from the states of New York and Vermont presented six concept plans for a replacement to the Champlain Bridge. The bridge was permanently closed on October 16 for structural defects. The closing caused much disruption in transportation on the western side of Vermont, especially for commuters. The states have been scrambling to find short-term and long-term solutions. On November 9, 2009 the governors of New York and Vermont declared that it was not feasible to rehabilitate the Lake Champlain Bridge and the bridge would be demolished. A replacement bridge would be constructed in the same location. More information about the Governors of New York and Vermont statements. The Public can offer its opinion on which design the states should pick for a new bridge by midnight tonight.

Vermont's priorities fared well Sunday, during a rare weekend session, as Congress gave final approval to a package of six annual appropriations bills. The budget package will fund much of the federal government through the remainder of the fiscal year. Senator Patrick Leahy (D-Vt.), a senior member of the Senate Appropriations Committee, secured more than $25 million for Vermont projects that will create jobs, prevent crime, and continue efforts to improve the condition of Lake Champlain.
Vermont priorities in the package by include:
Lake Champlain Protection -- $6,500,000 through the Great Lakes Fisheries Commission for habitat and water quality improvements.

Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) (“GMCR”) today announced that it is commencing a cash tender offer to purchase all outstanding shares of common stock of Diedrich Coffee, Inc. (NASDAQ: DDRX) (“Diedrich Coffee”) for $35.00 per share in cash, with no financing and no due diligence contingencies, in a transaction with a total value of approximately $290 million.
The tender offer is being made pursuant to a previously announced definitive merger agreement, dated as of December 7, 2009, by and
among GMCR, Pebbles Acquisition Sub, Inc., a wholly owned subsidiary of GMCR, and Diedrich Coffee. The Board of Directors of Diedrich Coffee has recommended that Diedrich Coffee shareholders tender their shares into the GMCR offer.

Today the New York State Department of Transportation (NYSDOT) and Vermont Agency of Transportation (VTrans) announced that, as part of an expedited process to demolish the existing Lake Champlain Bridge and build a replacement at the same location, NYSDOT contractor Harrison & Burrowes Bridge Constructors, Inc. (H&B) has secured an expert subcontractor to demolish the existing bridge. Advanced Explosives Demolition, Inc of Idaho will, working for H&B, plan for and execute the controlled explosive demolition of the steel truss bridge. The cost for the demolition will be $188,000. Removal of the debris will be a separate expense, which has not been determined yet.

As of this morning, Central Vermont Pubic Service's restoration effort is nearly complete from the snow and wind that knocked out power to 19,000 customers Wednesday. There were about 42 customers in Starksboro still without power from the storm, and a few scattered outages across the state, caused by high winds last night. CVPS said it has a mass of line crews, tree crews and additional field support staff in Starksboro working as quickly as they safely can to get those customers back on as soon as possible today.
Line workers restored service to thousands of customers over the last three days, rebuilding major sections of the electrical system in the wake of a storm with winds that topped 90 mph.

AM Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of National Guaranty Insurance Company of Vermont (NGIC) (Burlington, VT). The outlook for both ratings is stable.
The ratings reflect NGIC’s excellent capital position, consistently profitable operating performance, experienced management team and its parent company, Waste Management, Inc.’s (WM) (NYSE: WM) operational controls.
Partially offsetting these positive rating factors is a large percentage of the captive’s surplus is loaned back to WM and is supported by a 24-hour demand note from WM. However, capital levels at NGIC are monitored by Vermont, and the company must maintain a certain aggregate exposure to capital ratio as prescribed by the Vermont Department of Banking, Insurance, Securities and Health Care Administration.

The market value of the Vermont Yankee decommissioning trust fund accounts is now at $428,451,492, according to Entergy Vermont Yankee. That is a gain of more than $80 million in value in one year. The Vernon, Vermont, based nuclear power plant is seeking to extend the plant's license for 20 years beyond 2012, when the original 40-year license is scheduled to expire.
Yankee's Rob Williams said in a prepared statement, "Our continuing obligation is to ensure the fund meets the NRC-required amounts. Per an NRC request, Entergy Vermont Yankee will put in place later this month a parent company guarantee that further ensures that the obligation will be met. After meeting the NRC decommissioning requirements, Entergy Vermont Yankee also has the obligation to restore the site to a green field. We estimate that cost to be about $40 million. That is an obligation we took on when we accepted the terms of the purchase of the plant in 2002."

Shelburne Museum has been awarded a $600,000 Save America's Treasures grant from the Institute of Museum and Library Services. The grant will be used to install a fiber optic communications system connecting the museum's exhibit buildings on the 45-acre grounds. The state-of-the-art system will improve security, enhance climate control and support educational programs, including providing Internet access to the museum’s 39 exhibition buildings.
“Shelburne Museum is honored to have been selected to receive a Save America’s Treasures grant,“ said Shelburne Museum Director Stephan Jost. “While not the most glamorous, communications infrastructure is key to positioning the museum for the future. This award will make a significant difference in terms of conservation, security and education at the museum. “
Shelburne Museum was one of 41 grant recipients nationally from a pool of 402 grant applications. The awards totaled $9.5 million.

Employees of Williston-based Hampton Direct, an international leader in the booming “As Seen on TV” Industry will decide tomorrow, December 11, how to divide the company’s $20,000 donation to local charities.
The company’s 2009 sales are on pace to more than triple 2008’s, which was the company’s banner year. To commemorate this growth, Steve Heroux, CEO of Hampton Direct, came up with a unique idea to give back to the community’s charities in which their employees reside. Last year, Heroux left the decision on how to divide year-end employee bonuses to the employees themselves.
Recently, the company announced a retail partnership with Lowe’s to carry the Twin Draft Guard product in 350 stores in the Northeast and the company purchased a building that more than triples the square footage of their previous location (20,000 square feet compared to 66,000 in the new building). The company also plans to increase its staff by 20 percent.

The Senate Judiciary Committee Thursday approved legislation to establish a qualified privilege for journalists to protect their confidential sources and the public’s right to know. The bipartisan Free Flow of Information Act was first listed for Committee consideration in April, and Chairman Patrick Leahy (D-Vt.) has worked with the bill’s chief sponsors to move the legislation forward.
The media shield legislation was introduced by Senators Arlen Specter (D-Pa.) and Chuck Schumer (D-N.Y.) in February. Leahy, Schumer and Specter have worked with the Obama administration and supporters of the bill to negotiate a federal shield law for reporters. Forty-nine states and the District of Columbia have codified or common law protections for confidential source information. The Free Flow of Information Act was approved by the Committee by a bipartisan vote of 14 to five.