Current News

Small business lenders now have access to more in-depth information and resources on U.S. Small Business Administration loan programs through the new Lender Toolkit on the agency’s recently redesigned website.
The new site strengthens SBA collaboration with its lending partners, making it easier for them to identify the points of contact, loan programs and financing options that will best expand access to capital for local small businesses to help them grow and create jobs.
Elements of the streamlined Lender Toolkit include useful tools like the ability to download and submit loan packages, updates on interest rates and important lending news, all at www.sba.gov/for-lenders.

National Life Group today released its consolidated financial results for 2010, reporting a record high $1.74 billion in total revenue.

The company also announced that total assets under management grew $3 billion to $28.94 billion, that insurance in force increased roughly $2 billion to just over $62 billion, and that the company’s statutory surplus stood at $1.14 billion.

‘We are in a strong financial position,’ said CEO Mehran Assadi. ‘These numbers tell an impressive story, one of strong operating revenues and a healthy statutory surplus.’

Assadi said the company fared well despite continued uncertainty in the economy. ‘Today’s economic climate has people looking for solutions to meet a lifetime of needs ‘ and that’s what we offer,’ he said.

Spike Advertising has selected Mobius to receive one year’s worth of free marketing services --up to $50,000-- with their ‘Advertising Gone Good’ grant program. Nearly 40 non-profits from around Vermont competed for the grant through a comprehensive RFP process.
‘We are all impressed by the good work that Mobius does in the community," said Ken Millman, President of Spike Advertising. "We are excited to apply a year of focused effort to help raise the profile of this relevant organization."
‘We are both honored and humbled to have been chosen by Spike for this opportunity,’ said Andrea Torello, Executive Director of Mobius. ‘In turn, we hope to use this generous gift to better serve the community and the mentoring programs we work with by finding more mentors for kids and creating that culture of mentoring that we all dream about.’

The City of Burlington and the Alliance Française of the Lake Champlain Region (AFLCR) will host a special flag-raising event on March 24 in culmination of a series of French cultural events celebrating French month. Mayor Bob Kiss will attend the event and welcome French Consul Général Christophe Guilhou, as well as other officials and community members.
The event will begin at 5 pm in Contois Auditorium, where a French ‘friendship’ flag will be formally presented to the City by Consul Général Guilhou. Following this, a color guard of the Burlington Police and Fire Departments will perform a ceremonial flag-raising outside of City Hall on Church Street. The ceremony will also feature music by the Vermont-based Franco-American musical group Va-et-Vient. The event is free and open to the public.

by Anne Galloway vtdigger.org March 23, 2011 In the end, the House Dems, despite the best persuasive efforts of a Progressive and an independent representative, were good foot soldiers who did the speaker’s (and the governor’s) bidding: They refrained from straying too far outside the box they were given to work in.
The threat of a minor insurrection, in the form of income tax increases on upper-income Vermonters, was handily put down at the Statehouse on Tuesday ‘ apparently long before the legislation in question, the miscellaneous tax bill, was brought to the House floor.
Lawmakers, largely along party lines, voted 90-47 to raise $24 million in taxes on health care providers and increased the statewide property tax rate by one penny.

Across Vermont, architects, builders and contractors are working to create more energy-efficient businesses and homes. Efficiency Vermont is proud to recognize a select number of those projects with its annual ‘Best of the Best’ Awards.

Vermont’s congressional delegation ‘ Sens. Patrick Leahy (D-Vt.) and Bernie Sanders (I-Vt.) and Rep. Peter Welch (D-Vt.) ‘ on Wednesday applauded the announcement by the US Department of Agriculture (USDA) to expand assistance to Vermont for the Fresh Fruit and Vegetable Program (FFVP). Vermont is slated to receive nearly $1.8 million to help provide free fresh fruits and vegetables to children throughout the school day.
The USDA FFVP makes fruit and vegetable snacks available at no cost to children in participating schools. The program began in 2002 as a pilot program in a small number of schools and, with the support of Vermont’s congressional delegation, was greatly expanded in the 2008 Farm Bill. As a result, the FFVP will provide $1,734,894 to the Vermont Department of Education for the 2011/2012 school year, ensuring between $50 and $75 worth of fresh produce per student in qualifying schools.

University of Vermont President Daniel Mark Fogel today announced that he will step down as president effective July 1, 2012, exactly 10 years after he took office as the university's 25th president. Fogel said he plans to assume his full-time faculty appointment as Professor of English at UVM after the administrative leave that will follow his last year in the presidency.
Fogel made his announcement in a letter to the university community, distributed to all faculty, staff and students via electronic mail.
"It has been my great good fortune to be a part of Vermont's extraordinary university, and Rachel and I plan to continue to be a part of this exceptional community for years to come," Fogel wrote in the letter. "In my first statement as UVM's President-elect, in January of 2002, I said that service as president of the University of Vermont seemed to me to be the opportunity of a lifetime. A little more than nine years later, I feel that more than ever."

On March 22, Standard & Poor's Ratings Services (S&P) raised Vermont Electric Cooperative's (VEC) credit rating to 'A-' from 'BBB' and gave VEC a stable outlook.
The improved credit rating reflects S&P's view that VEC's leadership in smart meter deployment has led to improvements in system reliability. VEC has also kept rates competitive by successfully reducing operating costs and keeping purchased power costs low, while improving communications with the Vermont Public Service Board (VPSB).
"This is great news for VEC's members," said David Hallquist, Chief Executive Officer. "As a cooperative, all VEC consumers benefit when our financial position is strong. This improvement in our credit rating helps us to keep rates under control for our members."

There were 845 new regular benefit claims for Unemployment Insurance last week, a decrease of 167 from the week before. Altogether 12,312 new and continuing claims were filed, a decrease of 13 from a week ago and 2,879 fewer than a year earlier. The Department also processed 2,056 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 4 more than a week ago. In addition, there were 945 Second Tier claims for benefits processed under the EUC08 program, which is a decrease of 47 from the week before. The Unemployment Weekly Report can be found at: http://www.vtlmi.info/. Previously released Unemployment Weekly Reports and other UI reports can be found at: http://www.vtlmi.info/lmipub.htm#uc

Vermont business leaders and organizations today voiced concern over the advancement of H.202 the Health Care Reform bill, and the uncertainty it is causing many businesses.
While businesses recognize and agree with Governor Shumlin and other legislative leaders that the rising cost of health care is unsustainable, the legislation as currently structured does nothing to alleviate fears that costs will be contained under the new system.

Governor Peter Shumlin today announced his support for the reappointment of Public Service Board Chair Jim Volz for a six-year term.
‘Chair Volz has been a judicious Chair for the past six years,’ Gov. Shumlin said. ‘Vermont would be well served by his reappointment.’
By law, the Judicial Nominating Board is required to solicit and screen applications for the position, and the Governor may appoint a Chair from the list of qualified candidates provided by the Board. Governor Shumlin has asked the Judicial Nominating Board to begin that process.
‘I am honored to be given the opportunity to serve Vermont for another term and I thank the Governor for his confidence in me,’ Volz said.