Current News

Vermont Business Magazine Union Bankshares, Inc (NASDAQ - UNB) today announced the completion of a balance sheet repositioning related to its investment securities portfolio. The company's wholly owned subsidiary, Union Bank, executed the sale of $38.8 million in book value of its lower-yielding available-for-sale debt securities for an estimated after-tax realized loss of approximately $1.0 million, which will be recorded in the third quarter of 2024. Proceeds from the sale of the securities were redeployed into higher yielding bonds and funding loans that on a combined basis are expected to yield approximately 341 basis points more than the securities that were sold. The company estimates the loss will be recouped within approximately one year.

by Timothy McQuiston, Vermont Business Magazine At his weekly press conference today, Governor Phil Scott provided an update on his visit to Caledonia County on August 27 as part of the Capital for a Day tour. Governor Scott and members of the Administration met with local officials, business owners, law enforcement, public health professionals, and mental health professionals to understand what’s working well and where we need to improve to better serve our rural communities. With him at the presser were Commerce Secretary Lindsay Kurrle and Housing Commissioner Alex Farrell, who both discussed "the dire need for more housing," including mobile homes They stated that more housing across the board would reduce the affordable housing problem, help solve the workforce shortage and ease societal issues, including homelessness.

Vermont Business Magazine Senator Bernie Sanders (I-Vermont), Chairman of the Senate Committee on Health, Education, Labor, and Pensions (HELP), today issued the following statement after the CEO of Steward Health Care, Dr. Ralph de la Torre, refused to appear before the Committee despite a bipartisan subpoena compelling his testimony: "I am disappointed, but not surprised, that Dr. Ralph de la Torre, the CEO of Steward Health Care, who has made hundreds of millions of dollars ripping off patients and health care providers, is refusing to testify in the HELP Committee in defiance of a subpoena. Perhaps more than anyone else in America, Dr. de la Torre is the poster child for the type of outrageous corporate greed that is permeating through our for-profit health care system."

Vermont Business Magazine The Center for Community News at the University of Vermont today announced its third annual cohort of CCN Faculty Champions, a national initiative to support the people running local news reporting programs at U.S. colleges and universities across the country. News-academic partnerships have emerged as a critical contributor to the national news landscape and one solution to the crisis facing local news. “The news coverage that these programs are providing in coordination with their local outlets is helping to meet critical information needs,” said CCN Director Richard Watts. “Most importantly, they offer students a chance to contribute to public life and develop skills that will serve them in journalism and far beyond.”

Vermont Business Magazine Johnson community members are encouraged to participate in the second part of the Re-Imagine Johnson process to discuss and vote for actions generated by the community to address the long term flood recovery in Johnson and review the Community Resilience Assessment outcomes. The meeting will take place on Tuesday, September 10th from 5:00-8:30 pm at the Johnson Elementary School with pizza from the Community Oven and childcare provided. This event is the second step of a three-step process that brings together community members, including those displaced from the July 2023 flooding and impacted in the 2024 flooding, to examine issues, decide top priorities, and develop action plans for the future of their town. During step two, the community will review ideas generated in step one, advocate for what is most important to their community, then select top priorities and sign up to begin moving those priorities forward.

Vermont Outdoor Business Alliance The Business Emergency Gap Assistance Program (BEGAP) application portal is now open to businesses and nonprofits that suffered physical damage from flooding and severe storms in 2023 and/or 2024. $7 million is available to provide rapid relief for physical damage from the 2024 events. An additional $5 million will be available for ongoing recovery from the 2023 floods. Businesses may be eligible for both 2023 and 2024 BEGAP funding. Up to three separate grant applications can be submitted for each year's funding, for each physical location. Businesses have until November 15 to apply to cover 30% of net uncovered damages up to $100,000 per business location. 10% of funds are for Black, Indigenous, and Persons of Color applicants. Submissions will be considered on a rolling basis until all funds are expended. Also, nominations for the Patrick Leahy Trailblazer Legacy Award are being accepted.

Northeastern Vermont Development Association Governor Scott's request for FEMA disaster declaration to assist individuals and communities impacted by flooding from July 9-11, has been approved by the Biden Administration. This provides funding for individuals in Addison, Orleans, Washington, Caledonia, Chittenden, Lamoille and Essex counties to apply to FEMA for assistance. Register at DisasterAssistance.gov or call 1-800-621-3362. The deadline to apply for FEMA's Public Assistance Program for July 9-11 flooding (DR-4810) is Sept 20th. This declaration also includes funding to help cities and towns receive reimbursement for emergency storm repairs to public infrastructure. Town briefings will be scheduled soon.

Vermont Business Magazine Ten lawyers from the Burlington, Vermont law firm Paul Frank + Collins P.C. were selected by their peers for inclusion in the 2025 Edition of Best Lawyers in America. In addition, Kerin E. Stackpole was named “Lawyer of the Year 2025” for her work in Employment Law – Management, Labor Law – Management.

Vermont Business Magazine Breeze Airways, the premium leisure low-cost carrier offering affordable nonstop service across the U.S., today announced that it will be offering 50% off of all roundtrip base fares in the airline’s nationwide network if the code ‘BIGDEAL’ is used at checkout on the Breeze app or at flybreeze.com.  The promotion is available until Thursday at 11:59pmPT for travel from September 18 through May 13, 2025. From Burlington International Airport, Breeze flies twice a week to: Fort Myers (RSW), Jacksonville International Airport (JAX), Orlando (MCO), Raleigh-Durham International Airport (RDU), Tampa (TPA).

Vermont Business Magazine Bennington College welcomed a robust and diverse class of 222 new first-year and transfer students this fall. Twenty-seven percent of new students are domestic students of color. They hail from thirty-three states (and Washington DC) and twelve different countries. Of the incoming class, 6% of students have international citizenship, 14% of first-year students are the first students in their family to attend college, and 32% are Pell-grant eligible. This class continues Bennington’s commitment to making higher education accessible and affordable to students from a diverse array of backgrounds.  

Vermont Business Magazine Vermont Works for Women and Vermont Adult Learning are excited to announce that a new collaborative workforce development program, Trailblazers: Energy Works, is coming to The MINT - Rutland’s Makerspace October 1 – November 23. The two non-profits will come together to offer a free eight-week joint training program for women and gender-expansive individuals ages 18+ who are interested in seeking employment in Vermont’s climate workforce. Through hands-on learning in a safe and supportive environment, participants will gain skills and industry-recognized credentials in basic construction, weatherization, heat pump installation, and more. 

Vermont Agency of Transportation On Friday, at approximately 12:21 p.m., DMV Inspectors responded to a crash involving a lawn mower and a tractor trailer on VT 110 in Tunbridge. Investigation determined that the lawn mower, operated by Islene Runningdeer, 75, of Tunbridge, drove onto the roadway and collided with the trailer portion of the tractor trailer. The tractor trailer was operated by Brigham Young, 40, of Essex, and owned by New Bern Transportation Corp. Runningdeer sustained minor, non-life threatening injuries and was transported to Dartmouth Hitchcock Medical Center in Lebanon, NH. DMV was assisted by Tunbridge Fire Department.