Current News

In the week since New York Department of Transportation officials deemed the Champlain Bridge connecting Chimney Point, Vermont to Crown Point, New York unsafe for vehicle or pedestrian traffic, federal, state and local officials have been hard at work pinpointing and addressing the wide-range of challenges created by the bridge closure. Governor Jim Douglas today spoke with his staff via conference call from Seoul, South Korea to hear the latest update on the situation. At Governor Douglas direction, members of his cabinet have been coordinating efforts to ensure the needs of Vermonters, beyond the immediate transportation crisis, are being adequately addressed.

On their first full day in Asia, Governor Douglas and Commerce Secretary Kevin Dorn finalized plans with Jay Peak Resort President Bill Stenger and his partners, South Korean company AnC Bio Inc, to designate its new subsidiary, AnC Bio VT, LLC as an official Vermont EB-5 Regional Center Project. AnC Bio VT is now raising money for a planned new facility in Orleans County that will lead to the creation of over 200 new jobs.

Senate Finance and Senate Natural Resources will hold a joint committee meeting next Monday, October 26 to discuss potential issues around nuclear waste storage. The committee members will hear from Professor Michael Wilson regarding his evaluation of the geological suitability of the ENVY Spent Nuclear Fuel storage site in Vernon for the storage of spent nuclear fuel from the Entergy Vermont Yankee facility.
Professor Wilson's full report can be found at: http://www.leg.state.vt.us/jfo/VY%20Legislative%20Briefing/Geologic%20Is....

During Fiscal Year 2009 – VEDA’s 35th year in operation – the Vermont Economic Development Authority experienced an all-time high in loan activity, closing a staggering 315 financings totaling $94.4 million. These investments in Vermont’s manufacturing, agriculture, small business and service sectors more than doubled the $46.4 million in financings closed by the Authority during the prior year.
VEDA’s year-end figures will be presented today at the Authority’s 35th Annual Meeting in Burlington. Nationally-recognized Economist Hugh Johnson will be guest speaker at the event.
“The heightened importance of VEDA’s programs in difficult economic times was demonstrated by the Authority’s extremely high volume of lending activity during the current, deep national recession,” said Jo Bradley, VEDA’s Chief Executive Officer. “Without VEDA financing during this period, it is safe to say that many projects might never have gone forward.”

Below is the latest list of confirmed free Button Up Vermont workshops, sorted by county. These are all hosted by local committees, as part of the Button Up Vermont network. Attend a free Button Up Vermont home energy savings workshop and learn how to save money and fuel while having a more comfortable house.
Addison
Bristol and Lincoln
11/3/09
Holley Hall
7:00 PM
Sue Kavanagh and Stephen Taylor
Bristol & Lincoln Energy Committees
[email protected]
802-443-2322, 802-453-7976(h)
Caledonia
St. Johnsbury
11/3/09
Morse Center, St. J Academy
6:30 PM
Jim Wuertele or Tom Manges
St. Johnsbury Academy and Tech. Center
[email protected] [email protected]
802-748-8813, TM - 751-2312
Caledonia
Hardwick

US Senator Bernie Sanders (I-VT), a member of the veterans committee, today hailed President Barack Obama s signing of legislation establishing advanced funding for the Department of Veterans Affairs and the department s recent acceptance of the connection between Agent Orange and devastating diseases. President Obama signed legislation today providing health care funding for the Department of Veterans Affairs (VA) one year in advance to better plan and manage their facilities including the ability to hire and train the right number of staff to take care of our veterans.

Congressman Peter Welch and a coalition of House members announced a breakthrough Thursday morning in reforming the Medicare payment system to reward quality health care. At a Capitol Hill press conference, Welch and the other members outlined the deal, which will change the way Medicare pays health care providers for services from its current system focused on volume of care to a quality and value-based system. By making reimbursement rates more equitable, states like Vermont with higher quality and lower cost care are expected to benefit from the agreement.
“By rewarding quality – not quantity – of care, this agreement will save taxpayers billions of dollars and reduce costly, unnecessary procedures that fail to improve patient outcomes,” Welch said. “Reforming the current fee-for-service model is among the most critical elements of health care reform, and this breakthrough represents a significant step forward.”

Vermont Life magazine, the state publication that explores Vermont’s dynamic culture, has won three awards from an international association of regional publications. The magazine won a Silver medal in the Historic Feature category; a Bronze medal in the Most Improved Magazine category; and an Award of Merit in the General Feature category at the International Regional Magazine Association’s annual conference earlier this week in New Mexico.
“These awards really reflect on the dedication and hard work of the staff,” said Vermont Life Managing Editor Mary Hegarty Nowlan. “They have done a tremendous job in moving the publication forward, and the fact that we have been honored in the Most Improved category two years in a row shows that the changes we are making have been recognized by our peers.”

Senator Patrick Leahy (D-VT) hailed a new Obama Administration initiative sought by Leahy that will free up some of the frozen liquidity of housing finance agencies like Vermont’s Housing Finance Agency (VHFA). State and local housing finance agencies (HFAs) like VHFA expand access to affordable housing by helping low and middle income borrowers to buy homes. They work with participating lenders to provide affordable long term fixed rate home loans. The credit and housing crisis froze access to tax exempt capital and liquidity markets for many of the HFAs, significantly limiting their ability to serve the citizens of their states and communities.

State Auditor Tom Salmon, CPA, said he has launched a survey of the 62 school supervisory unions in Vermont to determine the full range of shared services among schools that help improve services or instruction and may contain costs.
“Many schools are sharing services of one kind or another, from common bus and food service contracts, to computer specialists, language teachers or special education staff,” Salmon said, “but no one has a good handle on what everyone is doing. Our survey will help produce an inventory of possibilities,” he said.

Entergy Corporation (NYSE: ETR) today reported third quarter 2009 as-reported earnings of $455.2 million, or $2.32 per share, compared with $470.3 million, or $2.41 per share, for third quarter 2008. On an operational basis, Entergy's third quarter 2009 earnings were $470.7 million, or $2.40 per share, compared with $487.3 million, or $2.50 per share, in third quarter 2008. Earnings for the quarter were down 3.2 percent. Year-to-date, earnings were down 12.6 percent on $8.2 billion in revenues, which was 18.3 percent lower than 2008. Entergy owns the Vermont Yankee nuclear power plant in Vernon. Consolidated Earnings - Reconciliation of GAAP to Non-GAAP Measures
Third Quarter and Year-to-Date 2009 vs. 2008
(Per share in U.S. $)
Third Quarter Year-to-Date
2009 2008 Change 2009 2008 Change

NBT Bank President and Chief Executive Officer Martin Dietrich announced that Matt Durkee has been hired as regional president of NBT Bank’s operations in Vermont. In this position, Durkee will develop and manage all of the bank’s activities in the state. The bank has opened a regional office at 150 Bank Street in Burlington, where Durkee and the team he is assembling will be based. Later this year, the bank plans to open a branch at the same location.