Current News

Governor Peter Shumlin today named Teo Žagar to serve in the Vermont House of Representatives, representing the towns of Barnard, Hartford and Pomfret. Zagar replaces former Rep. Mark Mitchell, who resigned for health reasons following the close of the 2011 legislative session.
Žagar, who was born in the former Yugoslav republic of Slovenia in 1978 to an American mother and Slovene father, moved to Barnard in 1985. He graduated from Woodstock Union High School and attended the University of Vermont before transferring to Hampshire College to focus on documentary film.
‘Teo understands education and special education issues, and has a broad world view and diverse perspective on issues,’ the Governor said. ‘He will serve his district well at the State House.’

Union Bankshares, Inc (NASDAQ ‘ UNB) today announced Net Income for the second quarter 2011 of $1.0 million, or $0.23 per share, compared to $1.5 million, or $0.34 per share, for 2010. Results for the second quarter of 2011 reflect a $0.05 decrease in earnings per share due to direct expenses incurred during the quarter related to the May 27, 2011 purchase of branches in Grafton, Littleton and North Woodstock, New Hampshire. There was also an increase in the loan loss provision of $60 thousand due mainly to the growth and composition of the loan portfolio. Non-acquisition operating expenses also increased between years as the Company grew, outsourced and enhanced marketing efforts, and incurred increased OREO costs. Year to date earnings for 2011 were $2.1 million, or $0.46 per share, compared to $2.7 million, or $0.62 per share, for 2010.

Several key players in Vermont’s electric and telecommunications industries appeared with Governor Peter Shumlin today to announce the finalization of a collaborative agreement to give Vermont more control over energy consumption, expand access to broadband and telecommunications services, and boost job creation and economic development.
The agreement between Green Mountain Power, Central Vermont Public Service Corp., and Vermont Telephone Company (VTel) is critical to Shumlin’s call to reduce our dependence on oil and fossil fuels and simultaneously provide high-speed internet access statewide by the end of 2013.

President Daniel Mark Fogel announced today that he is resigning from the University of Vermont presidency, effective July 31. Trustee Chairman Robert Cioffi told Vermont Business Magazine that he expects the Trustees to name an interim president in about a week. He would not speculate whether it would be a prominent local leader, which has been the case in the last two interim presidents ‘ former Governor Tom Salmon and businessman Ed Colodny.
Cioffi said Fogel came to him about a week ago to tell him that resigning would be best for him and the university as he attends to personal family matters. Cioffi said the two had been in contact over the last few months to discuss Fogel’s future with the university.

IBM has awarded the Vermont State Colleges system a $100,000 grant for an energy efficiency initiative to help HowardCenter and Vermont Technical College (VTC) reduce their energy use by at least 5 percent annually. Based on energy management strategies developed at IBM Burlington, the initiative will benefit from the input and partnership of VTC students, faculty and staff, HowardCenter staff, the Vermont Manufacturing Extension Center and IBM volunteers.
The grant is one of eleven IBM Centennial Grants awarded by IBM to projects around the world ‘ one of only two in the U.S. ‘ in recognition of the company’s 100th anniversary. The IBM Centennial Grants are both monetary and in-kind awards up to $100,000 each and fund innovative projects in areas such as healthcare, energy, and food safety, helping to build a smarter planet.

Governor Peter Shumlin today announced he will appoint criminal defense attorney Alison Arms and Martin Maley, a magistrate, to serve on the Vermont Superior Court bench in the northwestern district.
Maley has been a Vermont Superior Court Magistrate in the Family Division since January 2005. He also has significant experience with criminal, family and civil legal proceedings in state and federal court, and worked for law firms in St. Albans from 1987-2001. He received a BA from the University of Vermont in 1981, and a law degree from Western New England School of Law in 1987.
‘As a sitting magistrate, Martin brings a full range of judicial experience to the bench and he will be prepared to serve quickly,’ Gov. Shumlin said. ‘In addition, Martin brings a low-key judicial temperament to the position, which is an important factor.’

By Kate Duffy, Vermont Business Magazine. Entergy Nuclear has a $60 million decision to make ‘ whether to invest in refueling Vermont Yankee, even though a federal judge refused to issue a preliminary injunction assuring the company it could continue operating the plant while its lawsuit against the state is pending.
US District Court Judge J Garvan Murtha denied the request for a preliminary injunction in a decision issued Monday afternoon. He said Entergy failed to prove during a two-day hearing in June that it would suffer ‘irreparable harm’ before the case, schedule for trial in September, is decided.
During the hearing, Entergy’s lawyers argued that without an injunction that would let it plan for future operations, the company may be forced to shut down the plant before its current license expires in March. It would be unlikely to make a $60 million investment in fuel rods without an indication from the court that it might win its case.

Dartmouth-Hitchcock has again been ranked among the best hospitals in the nation in U.S.News & World Report's 2011-12 Best Hospitals, online at www.usnews.com/besthospitals. The rankings, annually published by U.S. News for the past 22 years, will also be featured in the U.S. News Best Hospitals guidebook, which will go on sale August 30. For the fifth straight year and for the ninth time since 1995, Dartmouth-Hitchcock has been recognized for its care in Gynecology.
The latest rankings showcase 720 hospitals out of about 5,000 hospitals nationwide. Each is ranked among the country’s top hospitals in at least one medical specialty.

When my students first begin to study law, they have a tendency to focus on the holding of the case, such as ‘Preliminary Injunction Denied.’ It’s like reading the headlines in a newspaper. But any good lawyer knows that the most important part of the decision is often found in the footnotes. And in Judge Murtha’s decision denying Entergy a preliminary injunction, the footnotes say far more than the headline.

The American Civil Liberties Union and the ACLU of Vermont has sued a Vermont resort that refused to host a lesbian couple’s wedding reception due to the owners’ personal bias against lesbian and gay people. Vermont law prohibits denying access to public accommodations based on sexual orientation.

KeyCorp (NYSE: KEY) today announced second quarter net income from continuing operations attributable to Key common shareholders of $243 million, or $.26 per common share. Key’s second quarter 2011 results compare to net income from continuing operations attributable to Key common shareholders of $56 million, or $.06 per common share, for the second quarter of 2010. The results for second quarter 2011 reflect an improvement in noninterest expense and lower credit costs from the same period one year ago. Second quarter 2011 net income attributable to Key common shareholders was $234 million compared to net income attributable to Key common shareholders of $29 million for the same quarter one year ago.

Irving Oil is offering even more opportunities to save on gas this summer by taking savings directly to customers through Irving Rewards. Over the next two weeks Irving street teams will be traveling throughout New England giving away thousands of dollars in Irving Gift Cards to customers at select locations as part of the Irving Rewards program.
In Vermont, the Irving Rewards street team will be at the Rutland Rte 7 Irving located at 258 South Main Street on Wednesday July 20th from 11AM ‘ 2PM. Customers that fill up will receive an Irving tote bag that could contain gift cards ranging from $20 to $100. In total, $1,000 in gift cards will be distributed to customers at the Rutland location.