Current News

Moody’s Investor Service has assigned investment grade issuer and debt ratings for Central Vermont Public Service. CVPS calls this an important step as the company prepares for Vermont’s energy future. The company has been focused on improving its credit matrices and ratings, which have been rated at below investment grade by Standard and Poor’s for several years, so these ratings signal an improved view of the company on Wall Street. The action affects approximately $177 million in securities. Moody's assigned a Baa3 issuer rating and a Baa1 senior secured rating to CVPS' currently outstanding first mortgage bonds, which were previously unrated by Moody's. It also affirmed CVPS' Ba2 preferred stock rating and the company's current stable rating outlook.

Radiology Today, a leading trade publication for interventional radiologists, has published an article in its November 30, 2009, issue highlighting the inherent danger of using radiation-emitting devices for anatomical visualization and navigation. Ascension Technology of Burlington, Vermont, is cited as offering a magnetic imaging alternative.
The article "Alternative Guidance Systems Minimize X-Ray Exposure", by Pulitzer-prize winning writer, Steve Wagner, warns physicians that radiation can have long-term implications, such as blood-borne cancers and cataracts.
Wagner interviewed Dr. Isador Lieberman, chairman of the Medical, Interventional and Surgical Spine Center at the Cleveland Clinic, for the article. While citing the absolute need for real-time imaging, Lieberman laments the fact that multiple new x-rays are the current standard of care.

The extinction of plant and animal species can be likened to emptying a museum of its collection, or dumping a cabinet full of potential medicines into the trash, or replacing every local cuisine with hamburgers. But the decline of species and their habitats may not just make the world boring. New research now suggests it may also put you at greater risk for catching some nasty disease, according to a University of Vermont-led article appearing in the journal BioScience.
"Habitat destruction and biodiversity loss,"—driven by the replacement of local species by exotic ones, deforestation, global transportation, encroaching cities, and other environmental changes—"can increase the incidence and distribution of infectious diseases in humans," write University of Vermont biologist Joe Roman, EPA scientist Montira Pongsiri, and seven co-authors in BioScience.

NYSDOT Acting Commissioner Stanley Gee and Vermont Agency of Transportation (VTrans) Secretary David Dill have announced that, in order to expedite progress on demolishing the current Lake Champlain Bridge and designing its replacement, the states will hold a series of meetings to present plans and options to the public throughout the day on Saturday, December 12, at LaChute Hall, 132 Montcalm Street, in Ticonderoga, New York. Vermont Public Radio has reported that the federal agency responsible for approving the demolition is expected to do so Monday. Officials want to demolish the bridge as soon as possible, perhaps by the middle of next week, before winter sets in to move the process ahead as quickly as possible.

Today in celebration of the upcoming International Volunteer Day, Hampton Hotels announced the “All-American Landmarks” that its hotel team members will help refurbish during the Save-A-Landmark program’s milestone 10th anniversary in 2010. In just 18 days during November, communities around the country cast nearly 20,000 votes for their favorite landmarks in four states which were Arkansas, Nebraska, Utah and Vermont.

Not only are we trading presents with family and colleagues over the next few weeks, but many people also make donations to non profit organizations this time of year. A new report reveals that each gift—whether it is of time, money or other resources—has a multiplier effect, touching lives in a small community and then rippling outward.
Giving in Vermont looks at the essential role charitable giving plays in our communities and the distinct challenges nonprofit organizations face when trying to raise money in a rural state. Among other things, the report points out that individuals contribute the vast majority of all monetary donations, far outpacing those from foundations, corporations and businesses. It also found that Vermonters are more generous with their time, but donate less money, when compared to national averages. The Vermont Community Foundation researched and produced these findings as part of its Understanding Vermont program.

Governor Jim Douglas and Secretary of Administration Neale Lunderville today announced that agreement on a new two-year contract has been reached with the Vermont State Employees Association (VSEA). The contract, which was signed by both parties earlier today, includes a 3 percent wage reduction as well as no automatic yearly wage adjustments or step increases for the duration of the contract. This settlement is very good news for the taxpayers of Vermont, according to a statement issued by the governor's office. It recognizes the governor’s call to share the sacrifice broadly during these very challenging economic times.

Vermont residents may now obtain an Enhanced Drivers License (EDL) at the Rutland office of the Vermont Department of Motor Vehicles, which is located at 101 State Place in Rutland. Until now, the only place an EDL was available was in Montpelier.
An EDL provides Vermonters with all the motor-vehicle privileges of a normal drivers license, but it has the added advantage of being recognized by the United States federal government as proper documentation to cross the Canadian border by either land or sea.
“Many Vermonters have inquired about obtaining an EDL, but for many the trip to Montpelier was just too much trouble,” said Vermont DMV Commissioner Robert Ide. “Employees at the Rutland office have now received the extensive training necessary to issues this passport-type document.”

At a time when the nation’s public water systems are facing a $24 billion shortfall, states can ill afford to spend millions of public dollars on bottled water – an unnecessary use of the most essential public resource. Corporate Accountability International is releasing a new report Getting States Off the Bottle as part of its ongoing Think Outside the Bottle campaign. This new report reveals state spending on bottled water in four northeastern states, explains why spending taxpayer dollars on bottled water is wasteful, and offers suggestions for how states can cut back on bottled water spending.

Senator Bernie Sanders (I-Vermont) has placed a hold on the nomination of Ben Bernanke for a second term as chairman of the Federal Reserve. His statement follows:
“The American people overwhelmingly voted last year for a change in our national priorities to put the interests of ordinary people ahead of the greed of Wall Street and the wealthy few,” Sanders said. “What the American people did not bargain for was another four years for one of the key architects of the Bush economy.”
As head of the central bank since 2006, Bernanke could have demanded that Wall Street provide adequate credit to small and medium-sized businesses to create decent-paying jobs in a productive economy, but he did not.
He could have insisted that large bailed-out banks end the usurious practice of charging interest rates of 30 percent or more on credit cards, but he did not.

Sens. Patrick Leahy (D-Vt.) and Bernie Sanders (I-Vt.) and Rep. Peter Welch (D-Vt.) today announced that Vermont’s Energy Efficient Appliance Rebate Program will receive an additional $536,400 from the U.S. Department of Energy (DOE).
Funded by the American Recovery and Reinvestment Act, the program provides rebates to consumers replacing used appliances with new Energy Star-certified appliances. Vermont’s program, which will be administered by the Vermont Energy Investment Corporation through the Department of Public Service, is scheduled to begin in March.
“This funding will help Vermonters reduce their energy bills by encouraging the use of more energy efficient appliances. It will help Vermont families save money, provide a boost to the economy and help the environment,” said Sens. Leahy and Sanders and Rep. Welch.

Union Bank is pleased to announce the appointment of two important community members to its Boards; Neil Van Dyke of Stowe and Daniel J. Luneau of St. Albans.