Current News

Vermont’s minimum wage will remain $8.06 per hour during 2010, the Department of Labor announced today. Vermont’s minimum wage increases at the same rate as the August Consumer Price Index (CPI) each year or five percent, whichever is smaller. The August CPI fell by -1.5% for the period September 1, 2008 to August 31, 2009. Vermont law does not allow the minimum wage to decline, so it will remain the same as it was during 2009, $8.06 per hour. Vermont is one of only 13 states with a minimum wage higher than the $7.25 per hour federal minimum wage.
“A steady minimum wage reflects our economic times,” said Commissioner Patricia Moulton Powden, Commissioner of the Vermont Department of Labor. “The cost of living has fallen and the ability of employers to increase pay is limited by the recession.”

Larry Sudbay, President and Chief Executive Officer of SymQuest Group, Inc. announced today that Rutland County Parent Child Center, Inc. (RCPCC) was chosen as the winning applicant for the Third SymPowered Office Makeover from SymQuest — worth $25,000. Rutland County Parent Child Center, a locally based non-profit, demonstrated the most need, budget constraints, outdated equipment and dedication to serving their clients. Since 1985, RCPCC has nurtured strengths, growth and independence of children and families in the Rutland area. The RCPCC believes that families and their children have the right to family-centered, comprehensive high quality services. They deliver these services through home-based programs, playgroups, parent education and support, information and referral early childhood programs, community development and on-site services.

The Champlain Bridge connecting Route 17 in Addison with New York state was closed Friday until further notice. The sudden closure was the result of inspectors finding a pier deteriorating at the water line. The bridge, at the crossing of Chimney Point and Crown Point, NY, is the responsibility of the State of New York, which will come up with alternative solutions until the bridge is repaired at least temporarily. Eventually the bridge could be repaired or replaced. Major construction was not expected to take place until 2013. A project either to rehabilitate or replace the bridge is being developed by both NYSDOT and the Vermont Agency of Transportation under an agreement between the states.

Arrow Financial Corporation (Nasdaq: AROW) announced operating results for the three and nine-month periods ended September 30, 2009. Net income for the third quarter ended September 30, 2009 was $5.1 million, representing diluted earnings per share (EPS) of $.46, unchanged from the diluted earnings per share in the third quarter of 2008, when net income was $5.0 million. Net income for the first nine months of 2009 was $16.7 million, representing diluted EPS of $1.52, or 7.8% higher than the diluted per share amount of $1.41 earned in the first nine months of 2008, when net income was $15.4 million. The comparative results for the nine-month periods were affected by certain significant transactions, discussed further in this release. Cash dividends paid to shareholders in the first nine months of 2009 was $.73, or 2.8% higher than the $.71 dividend paid in the first nine months of 2008.

The parent company of Chittenden Bank, People's United Financial, Inc (NASDAQ: PBCT), has announced net income of $26.8 million, or $0.08 per share, for the third quarter of 2009, compared to $25.3 million, or $0.08 per share, for the second quarter of 2009, and $46.0 million, or $0.14 per share, for the third quarter of 2008. Third quarter 2009 earnings reflect an increase in the net interest margin despite pressure associated with the historically low interest rate environment and the company's asset sensitive balance sheet, and an increase in the provision for loan losses due, in part, to the partial charge-off of a previously disclosed non-performing shared national credit.

Central Vermont Medical Center is revising their visitor policy starting Monday, October 19. These restrictions will remain in place throughout the H1N1 flu season. Guidelines will be revised as necessary to comply with Centers for Disease Control (CDC) guidelines.

There will be a limit of two visitors per patient, hospital wide, including the emergency department. Children under the age of 12 will not be allowed to visit. An exception will be made on the Women & Children s Unit. The healthy sibling of a new baby may visit and will be included in the two visitor limit. If any of the support people for new moms are ill with flu like symptoms they will be asked to return home. Visitors to pediatric patients will be restricted to only their parents or caregivers.

Vermont tax revenues exceeded their adjusted targets in September in the three major categories and in nearly all sub-categories. The most promising of which was the personal income tax, which was down in August. The fiscal year-to-date numbers also exceeded targets, but more modestly. The General Fund was up 5.09 percent in September and 2.37 percent YTD ($263 million). Of this, personal income, by far the single largest component, was up .57 percent YTD ($129.85 million total). The Transportation Fund was up 3.87 percent YTD ($55.05 million total), with all components exceeding targets. And the Education Fund was ahead .52 percent YTD ($36.09 total). The most notable component that failed to exceed its YTD target was the sales and use tax, which came in below target by .18 percent YTD ($51.32 million total). However, its September number did exceed its target by .14 percent.

Mount Snow offered its earliest lift service opening in history last Saturday when the Discovery Shuttle lift loaded its first passenger at 9:30a.m. The early opening also made Mount Snow the first and only resort open in Vermont. The Launch Pad trail was filled with a dozen terrain park features and over 700 skiers and riders in attendance throughout the weekend.

89 North, an employee owned company located in Burlington, Vermont has introduced an incentive program aimed at reducing the amount of mercury waste generated in scientific laboratories across the country. Mercury arc lamps are a common tool used in many labs, specifically those performing fluorescence microscopy. Unfortunately, a typical arc lamp can contain as much as 150 mg of mercury and have a useful lifetime of only 100-200 hours. This means that a typical lab will go through 3-4 lamps per year, creating a significant amount of dangerous mercury waste.

GE Healthcare announced today an agreement with Rutland Regional Medical Center to develop a Community Hospital Showcase and highlight the facility as a national host site for visiting community hospitals. The agreement will leverage GE’s extensive portfolio and Rutland Regional’s best practices to create a national ‘blueprint’ for institutions that use technology to improve the quality and efficiency of patient care.
“Rutland Regional has advanced the role of technology to help optimize processes, connect caregivers and further medical advancements,” said Mark Vachon, President & CEO, GE Healthcare Americas. “We’re thrilled to extend our collaboration with Rutland Regional to help further promote how technology and process innovation within community hospitals can positively impact clinical performance.”

MONTPELIER, Vt., Oct. 16 /PRNewswire/ -- More Vermont physicians will be using electronic prescribing and other health information technology to improve patient care, under a $1 million federal grant secured by U.S. Senator Patrick Leahy. The funds announced by Leahy and Vermont Information Technology Leaders, Inc. (VITL), will provide incentives to physicians and independent pharmacies to adopt health information technology.

Sens. Patrick Leahy (D-Vt.) and Bernie Sanders (I-Vt.) and Rep. Peter Welch (D-Vt.) today secured $1.5 million in federal funding for the Northern Border Regional Commission. The grant is the first time the four-state, economic development organization has received funding.
The federal-state partnership will provide investment and support for the northernmost counties of Vermont, New Hampshire, Maine and New York. Modeled after the highly successful Appalachian Regional Commission, the NBRC will develop long-term strategies to promote the success of the region by encouraging inter-state cooperation, federal support and private investment.
Vermont s Caledonia, Essex, Franklin, Grand Isle, Lamoille and Orleans counties are among 36 counties included in the regional development effort. The NBRC will include representatives from each of the states, as well as a presidentially-appointed co-chair.