Current News

In a milestone victory resulting from years of work by the US organic community to address known fraud in the organic marketplace, the National Organic Standards Board (NOSB) has voted 12 to 1 for the USDA National Organic Program (NOP) to enforce the law for organic personal care just like they do for organic food. This would mean shampoos and other body care products that claim to be organic, but are not certified, would be forced to drop the organic claims made on their products or improve formations to meet organic standards. Meanwhile, the group is urging consumers to buy "honest" organic brands, including Vermont Soap from Middlebury.

The second quarter of 2009 has more states recording positive growth, according to e-forecasting.com. It was just last quarter where NO states had positive growth, and back to 2008Q4 only one state had recorded positive growth: Washington DC with 0.3% growth. In the second quarter of 2009, we see that 25 states recorded positive growth. North Dakota beat out all other states in terms of GDP growth in the second quarter. With a 6.1% growth rate over the previous quarter, it is double the growth of the runner-up: Mississippi. Rounding out the top five are: Vermont, Montana and Washington, DC.
Even with this positive news, the national average growth in the second quarter was –0.7%. That being said, 32 states managed to improve over the previous quarter. On the bottom, West Virginia experienced heavy declines, shrinking 9.5% compared with the first quarter.

Green Mountain Children’s Museum (GMCM) announced today that it is withdrawing from the Moran redevelopment project on Burlington's waterfront.
“We are disappointed to have to make this decision. GMCM continues to support the Moran project and firmly believes it will be a tremendous asset to the entire region,” commented Mia Graham Beer, GMCM Board Chair. “Together, the City and GMCM have worked diligently to develop a financial scenario that would make GMCM’s continued participation in the Moran feasible. The City has done a good job of holding down project costs, however, the economic climate has changed since the project began and there are many variables beyond either party’s control. As a start-up non-profit, it is especially vital that we acknowledge those changes. We have therefore decided to seek an alternate location.”

The Vermont Chamber of Commerce recently returned from a very successful 12-day Trade Mission to the Far East with Governor Jim Douglas, officials from the Agency of Commerce and Community Development, and Vermont business executives. The Vermont Chamber, which helped organize the trip met with top leaders and investors in Shanghai, Hong Kong, Taiwan, and Hangzhou to entice them to invest in Vermont companies.
“Vermont businesses interested in foreign investment will benefit greatly from the EB-5 program. It will serve as a critical tool in helping Vermont businesses recover from the difficult economic times we are in,” said Betsy Bishop, President of the Vermont Chamber of Commerce. “This Trade Mission has provided valuable networking opportunities for some of our member businesses looking for foreign investment dollars to help grow their businesses.”

The Vermont Agency of Transportation this morning closed Route 108 through Smugglers Notch. VTrans does not know yet if the road is closed for the winter. It will assess the roadway if/when the weather warms up to see if it can be reopened and inform the public at that time. Motorists at this time should assume the Notch Road will be closed at least through Friday and likely through the weekend.
Source: John Zicconi, Vermont Agency of Transportation

Businesses looking to land lucrative contracts with state and federal governments can get a free lesson next week without ever leaving their offices. The Vermont Chamber of Commerce and Vermont Procurement Technical Assistance Center (PTAC) – a part of the state Department of Economic, Housing and Community Development – are teaming up to present a free webinar on Thursday, November 12 from 11 to 11:30 a.m. to teach businesses the ins and outs of government contracting.
“Many businesses just assume there isn’t any way for them to sell their products or services to state and federal agencies,” said Bill Masterson, director of the Vermont Procurement Technical Assistance Center, part of the Vermont Department of Economic, Housing and Community Development.

The third quarter of 2009 resulted in strong operating results for Stantec as gross revenue increased 10.5% to C$384.2 million and net revenue increased 6.1% to C$306.7 million compared to the third quarter of 2008. Gross margin increased from 56.0% to 56.5% and cash from operating activities increased from C$54.6 million in the third quarter of 2008 to C$62.9 million in 2009. Stantec's South Burlington office employs about 45 people, with another 40 in North Springfield.
During the quarter, the Company recorded a C$35.0 million goodwill impairment charge due to fluctuations and continuing uncertainty from economic conditions related to the US West operations. The goodwill impairment charge is non-cash in nature and does not affect Stantec’s liquidity, cash flows from operating activities, or debt covenants, and does not impact future operations.

NBT Bank Regional President Matt Durkee announced that Peter McCarthy has been hired as vice president and senior commercial banking relationship manager. In this position, McCarthy is responsible for developing and managing business relationships with the bank’s commercial customers in Vermont. He is based at the bank’s regional office at 150 Bank Street in Burlington.
“We are pleased to have Peter McCarthy on our commercial banking team,” Durkee said. “His experience serving all types of companies in Vermont will be very beneficial to our customers.”
McCarthy has more than 20 years of banking experience. Before joining NBT Bank, he led the commercial banking group for Citizens Bank in Burlington, where he worked for eight years. He previously held positions in private banking and commercial banking for KeyBank in Burlington, where he worked for nine years.

On Wednesday, November 25, the day before Thanksgiving, Stratton Mountain resort will officially begin its 2009-10 ski and snowboard season. The first snowfall fell on the summit in mid-October and the snow guns began operating on Tuesday.
According to Stratton Slopes and Trails Manager Al Desroches “We typically choose the day before Thanksgiving to open because not only is it a festive time, but it will allow us ample opportunity to make enough snow, groom it out, and present the best possible conditions to our guests.”

The Senate voted late this afternoon for a 14-week extension of unemployment insurance benefits. The extension would help about 1,800 Vermonters whose benefits were to have run out by the end of this year.
“Winter is coming and in Vermont and around the country we simply cannot leave families in the lurch without any source of income,” said Senator Bernie Sanders (I-VT).
Sanders said workers who have lost their jobs during the worst recession since the 1930s have remained unemployed an average of 27 weeks – longer than at any time since the end of World War II.
Senator Patrick Leahy (D-VT) said, “By extending unemployment benefits, the homebuyer tax credit, and business tax relief, this bill will help many Vermont families and businesses that are struggling through this recession. There is a clear need to lengthen the lifeline to jobless families and to continue these proven methods of strengthening the economic recovery.

The Vermont Chamber of Commerce is pleased to announce its 2010 Board of Directors and Executive Committee. Mark Saba, Owner of the Formula Ford Auto Group was elected as the Board Chair. Saba replaces Rick Milliken, Vice President and General Manager of the Doubletree Burlington Hotel.
The Vermont Chamber Board of Directors represents a diversity of Vermont businesses from around the state. The knowledge and experience that each member brings to the Board will be needed for the Vermont Chamber of Commerce to continue growing its membership and to insure that Vermont businesses remain viable during these difficult economic times that many Vermont businesses are facing, said Mark Saba, Vermont Chamber Board Chair and Owner of the Formula Ford Auto Group.
Executive Committee:
Mark Saba, Formula Ford Auto Group, Chair
Mark Wetmiller, TD Bank, First Vice Chair
Dr. Ty Handy, Vermont Technical College, Second Vice Chair

Former State Senator Matt Dunne of Hartland announced Tuesday that he will be a Democratic candidate for Governor of Vermont. He is emphasizing his business credentials in what promises to be a heavily contested primary. Already, former lieutenant governor and current state Senator Doug Racine (Chittenden County), Secretary of State Deb Markowitz, state Senator Susan Bartlett and, likely, Senate President Pro Tem Peter Shumlin (Windham) have announced their intentions to run for the seat being vacated by Governor Douglas. On the Republican side, Lieutenant Governor Brian Dubie has said he will run, which will leave other GOP politicians looking for other electoral opportunities.