Current News
by tim
Rock of Ages Corporation (NASDAQ:ROAC) today announced net income for the third quarter of 2009 of $1.5 million, or $0.21 per diluted share, on revenue of $12.9 million. This compares to net income for the third quarter of 2008 of $3.1 million, or $0.41 per diluted share, on revenue of $16.6 million.
by tim
Ben & Jerry’s has once again turned a fan’s flavor dream into a sweet reality with the “Do The World A Flavor” competition. Wisconsin resident, Toni Gunnison, concocted a caramel ice cream with praline almonds and a caramel swirl. The flavor, which integrates Fair Trade almonds, was named “Almond Delight” by its creator.
The Mount Horeb, Wisconsin flavor creator was awarded the grand prize on a recent once-in-a-lifetime trip to the Dominican Republic. Fifteen finalists from different countries spent a week with Fair Trade farmers at Conocado, a Fair Trade chocolate cooperative, with co-founders Ben Cohen and Jerry Greenfield, and creating their suggested Fair Trade flavors under the watchful eyes of Ben & Jerry’s research and development Flavor Gurus. They also participated in a local community project, building a playground for the local children of Yabon.
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Secretary of Administration Neale F Lunderville released the October 2009 General Fund Revenues today. General Fund revenues totaled 88.22 million for October 2009, -$0.14 million or -0.16% below the $88.36 million consensus revenue forecast for the month. Year to date, General Fund revenues of $351.22 million were +$5.95 million and +1.72% above the year to date FY 2010 target.
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The Vermont Chamber Hospitality Council recently polled its members about the economy and the upcoming holiday season. Businesses saw a strong foliage season this year and indicated that business was up over the same period last year; a sign that Vermont companies are coming out of the economic recession. Two-thirds said that regional events helped bring in business. Of those businesses that host meetings or events, about two-thirds also said that business was either flat or up over the same period last year, especially for family-related events such as weddings and reunions.
While trends indicate travel to Vermont has continued to pick up through the summer and fall, businesses are still cautious about their expectations for the upcoming holiday season. Businesses located in the Northern and Southern parts of the state are more optimistic than businesses located in Central Vermont about doing more business this holiday season than last holiday season.
by tim
Economic & Policy Resources of Williston, in conjunction with the New England Economic Partnership, has issued its November 2009 economic forecast for the state of Vermont, which indicates that while the economic downturn will bottom out in the fourth quarter of this year, jobs will decline through the second quarter of 2010 and economic growth will not return to normal levels until at least 2011.
Forecast in Brief
The November 2009 Vermont forecast for NEEP expects the Vermont economy to
experience a “bottom” during the fourth quarter of calendar 2009. However, the
pace of recovery will be slow and state labor markets will experience the lingering
effects of the “Great Recession” through the third quarter of calendar 2010.
o As in the May 2009 NEEP forecast update, more “normal” rates of growth
for most of the state’s key macro-variables will not return until at least
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Attorney General William Sorrell has announced that Vermont has joined with other states and the federal government and reached agreement with four pharmaceutical companies that paid a total of $124 million to resolve claims that they violated the False Claims Act by failing to pay appropriate rebates for drugs that were paid for by Medicaid. As a result of the settlements, Vermont received a check for $110,643 this week.
by tim
Related Company: Bolton Valley ResortBolton Valley Resort has become the first ski area in Vermont and only the second in the nation to utilize wind power from an on-site wind turbine. Bolton Valley commissioned its 100 kilowatt wind turbine, located at the top of the resort’s Vista Quad lift. It will produce the equivalent of electricity consumed annually by 40-to-45 Vermont homes.
“This a watershed moment for the Vermont ski industry and in many ways the energy industry in Vermont,” said Larry Williams, who with Doug Nedde, owns Bolton Valley. “We’ve demonstrated a commitment to 21st century approaches to energy generation and consumption solutions on a Vermont scale. Bolton Valley and its skiers and riders take great pride in being eco-friendly and will continue to work toward decreasing our impact on the environment.”
by tim
Odds are good that either you or someone you know has unclaimed financial property in Vermont. There currently are more than 211,000 claimable properties in Vermont’s unclaimed property database. With Vermont’s population at around 621,000, potentially one in every three people in the state could be linked to one of these properties. There is currently more than $47 million waiting to be claimed.
“We receive new financial property year-round,” said State Treasurer Jeb Spaulding. “While my office returned more than $5 million to Vermonters last year, at the same time we received just more than $8 million in new property. I urge everyone to check our online database every year.”
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As events continue to unfold in Washington that could alter the scope of the Vermont Student Assistance Corporation, the nonprofit organization took time recently to recognize the anniversaries of its major college planning programs.
· For 40 years, VSAC has provided Vermonters with individual counseling through TRiO, a group of programs that use a combination of federal and VSAC funds to help low-income, first-generation, college-bound students prepare for and succeed in education or training beyond high school.
· Ten years ago, Vermont was among the first states to receive funding through GEAR UP, another federal-VSAC partnership serving disadvantaged students. GEAR UP was created by former US Senator James Jeffords of Vermont.
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Standing on the land-based part of the Vermont side of the closed Champlain Bridge, New York Acting Commissioner of Transportation Stanley Gee delivered the structure’s death warrant. At a hastily called press conference at Chimney Point yesterday (November 9, 2009), Gee said NYS-DOT and three consulting engineering firms had analyzed all the data from all the inspections of the 80-year-old bridge, and had concluded that it had indeed passed its predicted 70-year lifespan. Unsafe for anyone to work on, and so close to collapse that the waterway beneath has been close to boat traffic, the rusting steel trusses have to go as soon as possible, he said.
by tim
Three Entergy Corporation (NYSE: ETR) officers have announced their retirement after distinguished careers spanning 30 to more than 40 years each. Scheduled to retire later this month are Mike Kansler, president, chief executive officer and chief nuclear officer of Entergy Nuclear; John McGaha, senior vice president of Entergy Operations; and Bud Storey, vice president and deputy general counsel.
"Mike, John and Bud have all made invaluable contributions to the company throughout their many years of service," said Entergy Chairman and Chief Executive Officer J. Wayne Leonard. "All three have been outstanding leaders and will leave big shoes to fill at Entergy. They have planned for this day and helped to develop successors that are prepared and eager to continue the record of achievement set by their predecessors."
by tim
WCAX-TV announced today that Molly McKenna Smith will lead its news coverage in Rutland, Bennington and Windham Counties. Smith will be based out of Channel 3’s Rutland Bureau.
“We are excited to welcome Molly as our newest journalist. Molly's presence in Rutland will enable us to cover stories more readily from that important region,” noted Anson Tebbetts, WCAX News Director.
Smith is a graduate of Rutland High School and earned her broadcasting degree from the E.W. Scripps School of Journalism at Ohio University, in Athens, Ohio.
Smith stated, “I am delighted to be home, and look forward to telling stories that resonate with Vermonters."
WCAX, which is based in Burlington, maintains bureaus in Rutland, Montpelier, West Lebanon, NH, and Plattsburgh, NY.
WCAX-TV is the CBS affiliate in Burlington, VT and is owned and operated by Mt. Mansfield Television, Inc.
Source: WCAX. 11.9.2009.