Current News

Vermont Business Magazine Average gasoline prices in Vermont fell 1 cent per gallon last week and are now $3.41/g, according to GasBuddy. They are down 8 cents from last month and are down 31 cents from the same time last year. The lowest price in Vermont is $3.12/g in Brattleboro and the highest is $4.29/g in West Bridgewater. The national average price of gasoline is unchanged in the last week, averaging $3.35/g today. The national average is down 11 cents per gallon from a month ago and stands 34 cents per gallon lower than a year ago.

Vermont Business Magazine Senator Patrick J Leahy will follow up his decades of service in the U.S. Senate with an appointment to the position of President’s Distinguished Fellow at the University of Vermont. Leahy will participate in campus activities with a special focus on the numerous program areas for which he was a tireless advocate for Vermont. As President’s Distinguished Fellow, Leahy will contribute to UVM’s mission by participating in the launch of research, academic and engagement projects initiated through his efforts while in Congress. He will be available as an advisor to students and faculty members, a guest lecturer in classes and at public events, and a conduit between the university and organizations and communities in all corners of the state.

Vermont Business Magazine The Legislative Joint Fiscal Office on Wednesday published their updated ‘Fiscal Note’ on S5, The Affordable Heat Act. Below is their analysis. The bill would establish the Clean Heat Standard to reduce Vermont’s greenhouse gas emissions from the thermal (heating) sector. The Public Utility Commission would administer the Clean Heat Standard with assistance from two advisory groups: the Technical Advisory Group and the Equity Advisory Group. The Department of Public Service would be a partner in providing assistance and in verifying and evaluating clean heat credit claims.

Vermont Business Magazine Senator Ram Hinsdale and President Pro Tem Baruth gathered with Representative Sims, Representative Stevens, Commissioner Hanford, and a broad coalition of Vermonters, businesses and housing advocates to mark the momentum on housing opportunity legislation. S100, which passed unanimously from the Senate Committee on Economic Development and is currently being reviewed in the Senate Committee on Natural Resources, seeks to address Vermont’s housing crisis by enabling more housing opportunities that reduce sprawl and protect our forests and farmlands.

Vermont Business Magazine Senator Bernie Sanders (I-Vermont), chairman of the Health, Education, Labor, and Pensions Committee (HELP), on Wednesday applauded people with diabetes for organizing to force Eli Lilly and Company to reduce the cost of insulin by 70 percent. Sanders also sent letters to other major insulin makers – Sanofi and Novo Nordisk – calling on them to follow suit. In 1923, the inventors of insulin sold their patent for $1 to save lives, not to make pharmaceutical executives extremely wealthy. Today, insulin costs just $8 to manufacture. Despite this, Eli Lilly has increased their insulin prices by 1,200 percent to $275 since 1996. Meanwhile, 1.3 million Americans were forced to ration insulin last year because of the unaffordable cost of this lifesaving drug.

by Trine Bech Before I retired as an attorney, I had been professionally involved in all sides of the child protection system: represented children and parents, run a child protection agency, and advocated for changes in the system to better serve children and families. I believed that the State had an important role in the protection of children. But never did I think that we would come to a point where our government would include one out of every 26 people on their list without ever going to court. This list is called the Child Protection Registry.

Vermont Business Magazine At his weekly press conference today, Governor Phil Scott and Natural Resources Secretary Julie Moore discussed S5, The Affordable Heat Act, which is currently before the Senate. They addressed the potential significant financial hardship the proposal could inflict to low- and moderate-income Vermonters, and the need to thoroughly plan how to make a transition to carbon-free heating alternatives – a goal the governor said he shares. The governor agreed with the ultimate goals of reducing carbon emissions and with it cost savings, which modeling suggests will be achieved over time. But he emphasized that initial costs will be significant, especially to those who can least afford it. S5 does not directly address those startup costs which are likely much greater than the millions already set aside for heating upgrades, like weatherization and heat pumps.

Vermont Business Magazine Senators Peter Welch (D-VT) and Debbie Stabenow (D-MI) and Representative Julia Brownley (D-CA) today introduced legislation to lower costs for veterans traveling to receive medical care through the Department of Veterans Affairs (VA). By increasing the VA’s travel reimbursement rate, the Driver Reimbursement Increase for Veteran Equity (DRIVE) Act will make it easier for veterans to receive essential health care and ensure reimbursement rates keep pace with future inflation and fluctuations in gas prices. The bill is particularly important for veterans from small and rural communities, many of whom travel long distances to receive essential medical care through the VA.

Vermont Business Magazine The University of Vermont Board of Trustees today re-elected Ron Lumbra to serve as chair and welcomed three new members following a special meeting. Lumbra, who is scheduled to serve on the board until March 2028, was re-elected as the board’s chair for a fourth one-year term. Lumbra is a partner in the CEO & Board Practice of Heidrick & Struggles and based in New York. Previously, Lumbra was managing partner of the firm’s Centers of Excellence Americas region. Lumbra has more than 22 years of executive search and succession consulting experience and an extensive track record of recruiting board directors and chief executive officers to a broad variety of clients. Born and raised in Vermont, in St Albans and Montgomery respectively, Lumbra completed his undergraduate studies at UVM, and earned a Master of Business Administration degree from Harvard University.

Vermont Business Magazine Williston-based iSun, Inc (NASDAQ: ISUN), a leading solar energy and clean mobility infrastructure company with 50-years of experience accelerating the adoption of innovative electrical technologies, today announced that preliminary revenue for the full year 2022 was approximately $74-76 million, 63%-68% higher than the $45.3 million reported for full year 2021, and at the high end of the revenue range of $70-75 million forecasted in November 2022.In addition, iSun expects total revenues for full year 2023 to be approximately $95-100 million, a 27%-33% increase over preliminary full year 2022 total revenues, reflecting the increased new business awards the company secured across its business in the second half of 2022 and its progress in working through its backlog.

Vermont Business Magazine The United States Attorney’s Office, the Vermont Attorney General’s Office, and the Rutland Area NAACP will be co-hosting a Hate-Free Vermont Forum in St Albans on March 13, 2023 from 5:30 pm to 7:30 pm. This forum will be the third held in an ongoing series; last year, Hate-Free Vermont Forums took place in Rutland and Bennington.