Current News

Central Vermont Public Service received the Vermont Governor’s Award for Environmental Excellence today for its first-in-the-nation switch to biodegradable oil.
Last June, CVPS switched from fossil-based chainsaw bar and chain oil to oil made from animal fat, removing thousands of gallons of traditional oil annually from Vermont’s environment. CVPS was the first electric utility in the nation to make the switch.
‘Every gallon of bar and chain oil ultimately ends up in the fields and forests,’ CVPS spokesman Steve Costello said. ‘Our action essentially removed 5,000 gallons of fossil-based oil from Vermont’s environment over the past year, and will continue to do so every year going forward. That’s a benefit to Vermont plants, birds, animals and amphibians.’

In 2010, drivers in Arizona paid the most in the nation for car repairs at an average cost of $421.49, according to CarMD.com Corporation, which analyzed roughly 80,000 repairs made on vehicles with "check engine" light problems in 2010. Vermont ranked 33rd.
Arizona's no. 1 ranking is 18% more than the U.S. average for overall costs and 23% more for parts. Drivers in theDistrict of Columbia, which is one of the wealthiest areas in the country (according to the most recent U.S. Census Bureau), paid the least at $265.29 per transaction. CarMD also found that drivers in New Jersey pay closest to the national average for car repair costs at $357.32, just a dollar more than the U.S. average. According to the first annual CarMD® Vehicle Health Indexâ ¢, the average cost of U.S. "check engine"-related auto repairs in 2010 was $356.04, including $212.44 in parts and $143.61 in labor costs.

Vermont home prices increased 3.9 percent in May, the second fastest increase in the nation next to New York. CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its May Home Price Index (HPI) which shows that home prices in the US increased on a month-over-month basis.
According to the CoreLogic HPI, national home prices, including distressed sales, increased by 0.8 percent in May 2011 compared to April 2011, the second consecutive month-over-month increase. On a year-over-year basis, home prices declined by 7.4 percent in May 2011 compared to May 2010 after declining by 6.7 percent* in April 2011compared to April 2010. Excluding distressed sales, year-over-year prices declined by 0.4 percent in May 2011 compared to May 2010 and by 0.8* percent in April 2011 compared to April 2010. Distressed sales include short sales and real estate owned (REO) transactions.

State Director, Lenae Quillen-Blume, announced that Dave Rubel has been selected as the 2011 State Star of Vermont Small Business Development Center. Dave Rubel is the Area Business Advisor for Washington and Lamoille Counties and the Export specialist for the team.
‘I am pleased to make this announcement and to recognize Dave for extraordinary contributions to our organization’ said Quillen-Blume. ‘Dave was chosen by VtSBDC for his excellent work with clients and his development of the export and international trade program offered by VtSBDC. He is generous with his time for clients as well as peers and is a professional and valued representative of the organization.’

The Vermont Superior Court, Washington Unit, issued a decision yesterday in favor of the State in its campaign finance law enforcement action brought against Green Mountain Future, an advocacy organization primarily funded by the Democratic Governors Association. The Court found that GMF spent over half-a-million dollars in September and October 2010 on political advertisements attacking candidate Brian Dubie in the gubernatorial race, but did not register with the Secretary of State’s Office or file required disclosure reports, and also failed to include proper identification information on its advertisements.

Copley Health Systems recently completed attestation to the federal government that Copley Hospital has met ‘meaningful use’ criteria for the Phase One implementation and use of its electronic health record (EHR) and is eligible for Medicare EHR incentive payments. Copley completed attestation on June 27, 2011; the first hospital in Vermont to do so. The attestation demonstrates to the Centers for Medicare & Medicaid Services that Copley Hospital has met requirements for EHR Medicare incentives under the American Recovery and Reinvestment Act of 2009.
‘Our focus has been to improve the quality of patient care and patient safety in addition to improving the exchange of information among healthcare providers and patients through our EHR,’ said Mel Patashnick, President of Copley Health Systems. ‘Our being at the forefront of implementing this vital technology is indicative of our commitment to providing outstanding patient care.’

Town of Hartford and The Center for Cartoon Studies (CCS) will be awarded a $255,000 Vermont Community Development Program Implementation Grant to launch the Inky Solomon Center, a state-of-the-art industry center designed to help CCS alumni launch projects, incubate start-up companies and create jobs.
Leveraging the world-class talent already attracted to Vermont by The Center for Cartoon Studies, the Inky Solomon Center will produce comics, graphic novels, and other visual narratives for print and digital industries. Public lectures and events will highlight collaborative projects, alumni and student work.
‘So many of our alumni are already producing inspired work. I’m thrilled that with The Inky Solomon Center we can support our alumni and faculty in an even more robust way,’ says CCS director, James Sturm.

The Vermont Chamber of Commerce announces the highly anticipated 2011-2012 Top Ten Winter Events. Each year, a panel of independent judges chooses Vermont’s best activities, selected for their diversity, wide appeal, and consistency with Vermont's brand.
Vicky Tebbetts, Vermont Chamber Senior VP, noted, ‘Vermont is known for being a destination in which to relax, reconnect with friends and family, get outdoors, and get back to basics. This year's Vermont Chamber Top Ten Winter Events feature time-honored traditions as well as contemporary experiences from all regions of the state.’
The Vermont Chamber Top Ten Winter Events take place from November 2011 through March 2012.
The winners in chronological order are:
Thanksgiving Weekend at Billings Farm & Museum
Woodstock, November 25 ‘ 27, 2011, 10 am ‘ 3:30 pm

The Executive Board of the American Parkinson’s Disease Association (Vermont Chapter) will officially recognize Jim’s House, Inc., with a grant from the Pharmaceutical Research and Manufacturers of America (PhRMA) in the amount of $2,000. The APDA Vermont Chapter will match PhRMA’s grant for a total of $4,000.
Jim’s House was founded and named after Jim Crevier who was diagnosed with Lou Gehrig’s Disease (ALS) in 1997 and died in 2001. The house has been made available for people with Neurological Diseases and their care providers coming to Fletcher Allen Health Care from such a distance to require an overnight stay.

The Vermont Sustainable Jobs Fund (VSJF) today announced the launch of the VSJF Flexible Capital Fund, L3C. The fund is the first business-lending program in Vermont focused on royalty financing for growth stage businesses ‘ and one of only two such investment-lending programs of its scale in New England.
Using investment tools such as royalty financing and subordinated debt, the VSJF Flexible Capital Fund (Flex Fund) provides small businesses in Vermont with access to the flexible risk capital they need to grow - without having to give up their ownership stake in the company.
The Flex Fund is also unique in that it is specifically targeted to support Vermont companies in value-added agricultural, forest products, and clean technology sectors.

More Vermonters will be able to purchase homes using Vermont Housing Finance Agency's low-interest mortgages thanks to new income and purchase price limits put in place last Friday.
"VHFA is always working hard to respond to Vermont's housing market, which can be a moving target," explained Executive Director Sarah Carpenter. ‘The new limits mean more Vermonters and Vermont properties have become eligible for VHFA financing, which we hope will help encourage first-time buyers who realize that now may be a great time to buy."
Income and purchase price limits vary by county and help determine which homebuyers and properties are eligible for VHFA financing. Income limits are ceilings on what households can earn and still qualify for VHFA mortgages; purchase price limits are the maximum price a home can sell for and still be eligible for VHFA financing.

Vermont is the most successful of U. domiciles in the captive industry, licensing over 900 captive companies in its 30 years. Just as Vermont officials are touting the industry milestones with a 30th anniversary celebration, Vermont captive insurance law firm, Paul Frank + Collins’ lawyers are reflecting on their contributions to the industry and their future role.
From the inception of the captive industry in Vermont in 1981, PF+C has been engaged with the legislative process for the captive insurance laws and has been actively involved with the Vermont Captive Insurance Association (VCIA) and the Vermont Insurance Department to create and maintain a firm foundation for the industry. From suggesting conceptual changes to the law to drafting specific statutes, PF+C’s team of seasoned and responsive attorneys led by Alan Port have participated with other captive insurance stakeholders continuously to hone the captive statutory framework.