Current News

The Board of the Grafton, Vermont-based Windham Foundation announced today the appointment of Robert (Bob) Allen as Interim President, following the retirement of Dr John Bramley. The selection follows a unanimous vote of approval by the full board.
The Windham Foundation is an operating foundation with the primary mission of promoting Vermont’s rural communities, including support for indigenous enterprises including Grafton Village Cheese Company and The Old Tavern at Grafton, an historic inn.

Vermont Business Magazine The House today unanimously approved H593, the consumer protection bill. This legislation addresses automatic contract renewals, retainage for construction materials, credit protection for vulnerable persons and use of credit information for personal insurance. House Speaker Mitzi Johnson supported the legislation, stating that “one important feature of this bill is the provision that ensure that Vermonters who invest in consumer contracts are not subject to automatic renewals unless they explicitly opt in to the provision. This protects Vermonters from companies that automatically renew contracts and charge consumers for services year after year, such as magazine subscriptions, gym memberships, and media streaming services. Sellers will be required to provide a notice of renewal 30-60 days before the auto renewal or termination date.”

The Green Mountain Chapter of International Association of Electrical Inspectors (IAEI) has donated $1,000 in support of the Electrical Apprenticeship program offered through the Technology Extension Division at Vermont Technical College.
The IAEI has been a strong supporter of both the program and college in the past, and annually awards prizes to the top students in the Electrical 1 and Electrical 4 programs.
Historically, the prize for the top student in Electrical 1 has been a full tool kit assembled and donated by Klein Tools. The prize for the top student in the Electrical 4 program is a year’s membership in the IAEI, a certificate for a free 15-hour Code Update course worth more than $100, and a 2011 National Electric Code book.
‘The Green Mountain Chapter of the IAEI is a strong supporter of the Vermont Apprenticeship Program and we’re glad to help in any way we can,’ said Andrew Rea, Chapter President.

Representative Peter Welch took to the House floor Thursday afternoon to fight legislation that threatens rural airports throughout the country, including the Rutland Southern Vermont Regional Airport.
A provision in the Federal Aviation Administration (FAA) Reauthorization and Reform Act of 2011 (H.R. 658) would eliminate the Essential Air Services (EAS) program starting in 2013. The EAS program provides funding for approximately 140 rural communities throughout the country that would otherwise not have scheduled air service. In 2010, service to and from the Rutland Southern Vermont Regional Airport to Boston Logan International Airport received $797,141 under the EAS program.

The Vermont Department of Education released 2011 school accountability determinations as required by the federal No Child Left Behind Act (NCLBA) today.
A school makes Adequate Yearly Progress (AYP) by meeting targets set by the state as required by NCLBA. These targets increase every three years with the goal of 100 percent proficiency by 2014. The 2011 AYP targets reflect the final substantial increase before the goal reaches the expectation of 100% of students proficient.

The Vermont Agency of Agriculture, Food and Markets is now accepting proposals for the 2011 Specialty Crop Block Grant Program. Vermont’s federal allocation for this funding cycle is estimated at $229,000. These grant funds are for the sole purpose of enhancing the competitiveness of Vermont-grown Specialty Crops, and will be distributed to through a competitive review process. The complete RFP and required cover sheet can be found online here: http://www.vermontagriculture.com/buylocal/marketing/specialtycrops.html.

Fitch Ratings downgrades the ratings on the education loan revenue bonds issued by Vermont Student Assistance Corporation (VSAC) issued under the 1995 General Resolution. The rating is removed from Rating Watch Negative and a Stable Outlook is assigned to the bonds. A complete list of the ratings is shown below.
The rating downgrades are based on loss coverage multiples and on the level of credit enhancement that is available to absorb the applicable basis risk factor stress level after accounting for the trust's cost structure and its ability to generate excess spread towards the tail end of the transaction. Credit was given to the increased credit enhancement provided by VSAC's purchase of bonds at a discount since March 2010, as reflected by the trust's 107.03% senior parity ratio. Although senior bond payments are guaranteed by AMBAC Indemnity Corporation (AMBAC), no credit was given to this guarantee, as Fitch has withdrawn the ratings on AMBAC.

In his first interview as governor with Vermont Business Magazine, Peter Shumlin talks about why he ran for governor, the differences between being a governor and a legislator, his steadfast opposition to the renewed operation of the Vermont Yankee nuclear power plant and his hopes for renewable energy. He reiterated his stated position that the Vernon plant is old and leaking and should be decommissioned when its license expires in 2012.
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Entergy Corporation (NYSE: ETR) today announced Entergy Nuclear Vermont Yankee, LLC has completed negotiations on a 20-year agreement to sell power from the Vermont Yankee nuclear plant to customers of Vermont Electric Cooperative, Inc, the third-largest electric distribution utility in Vermont. Entergy also stated that it will not sell the plant.
The agreement is subject to approval by VEC’s board of directors, and is contingent on the plant running after March 2012.
‘Entergy continues to seek successful resolution related to the long-term future of Vermont Yankee to benefit all stakeholders, including the approximately 650 men and women who work at the plant,’ said Richard Smith, president of Entergy Wholesale Commodities. ‘Securing agreements with the local electric companies to sell power from the plant at affordable prices is one of the efforts that has been under way for some time.’

by Anne Galloway vtdigger.org March 30, 2011 The T-bill, or state transportation bill, as it’s known, took a $42 million hit this year when the federal government ended funding for state transportation projects in 2011 under the American Recovery and Reinvestment Act. Most of that money is coming out of paving and road building.
Last year, the state spent $595 million on total transportation ‘ highway, rail, public transit and aviation. The grand total this year is $553.7 million. About 60 percent of that outlay for fiscal year 2012 would be spent on the state’s highway system. The remaining $165.1 million is slated for administration, facilities, public transport, aviation and rail projects.
Lawmakers in the House will take up the T-bill on Thursday.

NRG Systems, manufacturer of wind measurement equipment and long-time proponent of healthy workplaces, received the silver Governor’s Council on Physical Fitness and Sports Worksite Wellness Award yesterday at the annual Worksite Wellness Conference held in Burlington. NRG Systems’ wellness program, called NRGize Your Life, was recognized for its healthy workplace and wellness initiatives that encourage ‘people to engage in physical fitness activities and eat nutritiously, both on and off the job.’
‘NRG Systems recognizes that healthy and happy employees are more productive employees,’ said Jan Blittersdorf, president and CEO of NRG Systems. ‘Sustainability is central to our mission and it applies to both the long-term health of our company and our employees. We’re constantly on the lookout for new ways to promote healthy lifestyles for our employees at work and at home.’

Excavation work began today on lower Church Street as part of a $1.6 million project which will significantly re-design pedestrian and streetscape elements of lower Church Street and Saint Paul Street.
In 2005, the Safe, Accountable, Flexible, and Efficient Transportation Equity: A Legacy for User (SAFETEA-LU) act provided transportation funding to communities across the country. Through the efforts of Senator Patrick Leahy, the City of Burlington received $3 million for specific improvements on the Church Street Marketplace as part of the Church Street Marketplace Improvement Program and $3 million for improvements on the side streets to the Church Street Marketplace.