Current News

Vermont Business Magazine Following major flooding caused by the remnants of Tropical Storm Beryl on July 10-11, 2024, the Vermont Department of Forests, Parks, and Recreation (FPR) is launching a new Flood Impact Survey to understand the impact on Vermont’s forest economy. Forest economy businesses and landowners affected by July 2024 flooding are asked to complete the 2024 Flood Impact Survey. This survey aims to document the type and extent of the damage experienced by Vermont’s forest products sector and forest landowners. The survey will remain open to capture information on loss and damages until August 20, 2024.

Vermont Business Magazine Today, Vermont House Speaker Jill Krowinski issued the following statement to update Vermonters on the Affordable Heat Act process and call out the significant misinformation campaign being waged on Vermonters: “There has been a significant and intentional misinformation campaign circulating across Vermont about the Affordable Heat Act (Act 18). Much of this information is coming from groups outside of Vermont, like Americans for Prosperity. Founded in 2004 by brothers David H. and Charles Koch of Koch Industries, this Super-PAC has emerged as a leading defender of the oil and gas industry and a well-funded opponent of climate and environmental initiatives nationwide."

Vermont Business Magazine Fitch Ratings has assigned a 'AA+' rating to the following Vermont Housing Finance Agency (VHFA) multiple purpose bonds: $16.91 million 2024 series E-2 (Non-AMT) (Social Bonds). The Rating Outlook is Stable. The 'AA+' rating reflects the continued strengthening of the program's asset quality, as indicated in the growing percentage of the mortgage-backed securities (MBS) portion of the portfolio; the program's continued financial strength demonstrated by the FY23 results and cash flow asset parity levels; and the low percentage (2%) of variable rate debt exposure.

Vermont Business Magazine Senator Bernie Sanders (I-Vermont) on Tuesday night spoke on the floor of the U.S. Senate about Prime Minister Benjamin Netanyahu’s upcoming address to a joint meeting of Congress and the ongoing, horrific humanitarian disaster in Gaza. Sanders’ remarks, as prepared for delivery, are below and can be watched live here: "M. President: Wednesday will be a unique moment in Congressional history. Throughout the many years of our country, leaders from dozens of countries with all kinds of political backgrounds and persuasions have been invited to address a joint meeting of Congress. To the best of my knowledge, however, (Wednesday) will be unique: in bringing Prime Minister Netanyahu to address a joint meeting of Congress, it will be the first time in American history that a war criminal has been given that honor."

Senator Bernie Sanders On July 10, exactly one year after the worst Vermont flooding in nearly a century, a number of Vermont communities were, once again, hit by floods. Some of the hardest hit towns were Barre, Barton, Hardwick, Johnson, Lyndon, Middlesex, Moretown, Plainfield, Richmond, Sheffield, St. Johnsbury, Waterbury, Peacham, and Barnet. What makes this year’s flooding so awful is not just the significant damage done to homes, businesses, and infrastructure. But the reality that many of the people recently impacted were the same exact people who had to deal with the floods of a year ago. These folks spent a year struggling to get back on their feet – and now they have to start all over again.

Vermont Business Magazine While speaking from the Senate Floor this evening on the ongoing humanitarian catastrophe in Gaza, Senator Peter Welch (D-Vermont) announced he would not attend Israeli Prime Minister Benjamin Netanyahu’s joint address to Congress on Wednesday. In his statement, Senator Welch explained that while he welcomes a constructive discussion on how to end the conflict and achieve lasting peace and security for Israelis and Palestinians, he is not interested in participating in a political stunt. He urged Congress to refocus its efforts on ending the ongoing humanitarian crisis in Gaza. 

Vermont Business Magazine Rep. Becca Balint (D-Vermont) released the following statement announcing she will not attend Netanyahu’s address to Congress and instead join families of the hostages taken in the October 7 attack for counter programming: “Netanyahu should not be welcomed here in the US Congress. He should be spending every waking moment working to bring the hostages home, securing a ceasefire, and ending this catastrophic war. His reckless decisions and deadly offensive since the horrifying attacks on October 7 have killed thousands of Palestinians and brought famine to over a million people in a devastated Gaza. His address before Congress will not further the goals of peace and security for Israelis and Palestinians, but rather will serve as a distraction from the Prime Minister's failure of leadership. 

Vermont Business Magazine Nineteen percent of Vermont State University (VTSU)’s first-year students in Fall 2023 identified as Black, Indigenous, or People of Color (BIPOC). Multicultural students make up a significant proportion of these students, including international and exchange students, refugees, immigrants, and domestic students with multilingual heritage. Amongst the multicultural students, the number of students who are fluent multilinguals, meaning they regularly use two or more languages in their day-to-day lives, increases from 87 in Fall 2023 to 166 this coming fall. Vermont State University has taken steps to support these students in their educational pursuits to ensure they are able to succeed.

Vermont Business Magazine The scholarship program at New England Federal Credit Union (NEFCU) has awarded five $5,000 prizes to selected applicants who have shown scholastic excellence and are interested in advancing their education in any field of study. “The volume and quality of applications we received was a strong reflection of our member’s exceptional academic achievements and community engagement,” said Sarah Ricker, community relationship manager at NEFCU. “We were impressed with the over 100 students who are on a path for knowledge and strengthening their financial future.”   

Vermont Business Magazine The Vermont Department of Health, in coordination with the Food and Drug Administration (FDA) and the Centers for Disease Control and Prevention (CDC), is advising people not to consume any “Diamond Shruumz” brand products. The FDA and CDC are investigating two deaths and more than 70 cases of illness associated with eating Diamond Shruumz-brand mushroom-based “microdose” or hallucinogenic products – including chocolates, gummies and cones. There are currently no confirmed reports of illness or death in Vermont. Despite a nationwide recall in June, the FDA reports that some products may still be available for sale online, at smoke/vape shops, gas stations and convenience stores, and at retailers that sell hemp-derived products such as cannabidiol (CBD) or delta-8 tetrahydrocannabinol (delta-8 THC).

Vermont Business Magazine Today, U.S. Senator Peter Welch (D-Vermont), Chair of the Senate Agriculture Subcommittee on Rural Development and Energy, Senator Bernie Sanders (I-Vermont), a senior and longtime member of the Senate Environment and Public Works Committee, Senate Majority Leader Chuck Schumer (D-N.Y), and Senator Kirsten Gillibrand (D-N.Y.) introduced the bicameral Lake Champlain Basin Program Reauthorization Act – legislation that would reauthorize the Lake Champlain Basin Program (LCBP) for ten years at $55 million to support interstate conservation and the health of the Lake Champlain Basin. The bill would establish the Patrick Leahy LCBP Foundation to formally administer the program to promote climate resilience and mitigation through ecosystem restoration. U.S. Representative Becca Balint introduced companion legislation in the House. 

Vermont Business Magazine AM Best, the global rating agency for the insurance industry, has affirmed the rating of the Union Mutual of Vermont Companies of “A” (Excellent) with a Stable Outlook. The Union Mutual of Vermont Companies consist of Union Mutual Fire Insurance Company and its wholly owned subsidiary, New England Guaranty Insurance Company, Inc. as well as its mutual affiliate, Community Mutual Insurance Company. According to the report from AM Best, affirmation of the rating indicates consistent profitable operating performance, and reflects Union Mutual’s balance sheet strength -- which AM Best assesses as very strong -- as well as adequate operating performance, neutral business profile and appropriate enterprise risk management.