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UVM gets $1.25 million DOT award to help form Transportation Infrastructure Durability Center

Thu, 07/19/2018 - 3:43pm -- tim

Vermont Business Magazine University of Vermont in collaboration with the University of Maine and others will create a highly competitive University Transportation Center (UTC) called the Transportation Infrastructure Durability Center (TIDC). TIDC aims to help save taxpayer dollars by extending the life of our transportation assets, including bridges, roads and rail. The US Department of Transportation will provide as much as $14.2 million over five years for this University of Maine-led coalition, which includes UVM, University of Rhode Island, University of Connecticut, University of Massachusetts Lowell and Western New England University.

Auditor can’t quantify benefit of economic incentives

Thu, 07/19/2018 - 3:04pm -- tim

by Timothy McQuiston, Vermont Business Magazine An investigative piece on economic development policies conducted by Vermont Auditor Doug Hoffer calls into question the efficacy of incentives undertaken by Vermont (and indeed any state). In short, Hoffer is not sure that the money they bring in exceeds the cost of the program or whether using that same money for some other program might be better spent.

Vermont Community Foundation awards 15 Spark! grants

Thu, 07/19/2018 - 2:34pm -- tim

Vermont Business Magazine The Vermont Community Foundation announced today that—in partnership with some of its fundholders—it has awarded a total of $37,720.39 in Spark! Connecting Community grants to 15 nonprofit organizations for local projects in communities across the state, including some nonprofits that serve residents in multiple counties. One of the competitive grant programs at the Community Foundation, Spark! Connecting Community puts building and nurturing community front and center. 

Burlington Telecom gets high marks for customer satisfaction

Thu, 07/19/2018 - 1:32pm -- tim

Vermont Business Magazine Burlington Telecom has maintained its high level of Customer Satisfaction, according to the results of an annual survey. Overall, 90 percent of customers are satisfied with Burlington Telecom as their internet service provider (ISP). According to the 2018 American Consumer Satisfaction Index (ACSI) Telecommunications Report released in May, the average satisfaction for internet customers saw a 3 percent drop this year and, along with subscription TV, ISPs have the poorest customer satisfaction rankings among all industries tracked, including airlines and health insurance.

Vermont issues reporting requirements for storage or use of hazardous materials in the workplace

Thu, 07/19/2018 - 12:30pm -- tim

Vermont Business Magazine Vermont's Community Right-To-Know Program, 20 VSA Chapter 1, Vermont's Rules and Regulations dated October 1995, and the Federal Emergency Planning and Community Right-to-Know Act (EPCRA) which is a part of 42 USC Chapter 116, require that certain hazardous materials must be reported annually by March 1st for the preceding calendar year. If you have not completed the current year's report, the state urges you to do so as soon as possible.

Turning over former US ambassador to Russians called 'ludicrous'

Thu, 07/19/2018 - 12:07pm -- tim

Vermont Business Magazine Reaction of Senator Patrick Leahy (D-Vermont) to the White House’s refusal to summarily reject Russian President Putin’s proposal to make former US Ambassador to Russia Michael McFaul available to the Russian government for interrogation. "It is beyond belief that the White House would even contemplate the ludicrous notion of turning over to Russian President Putin a former US ambassador..."

Top bass fishing TV program visiting Vermont for first time

Thu, 07/19/2018 - 10:54am -- tim

Vermont Business Magazine Major League Fishing is in Colchester to film the 2019 Challenge Select as the league continues the eighth season of filming. The anglers will be in town until July 22, 2018. Major League Fishing features 52 of the top anglers in the country and includes Bassmaster Classic champions, Angler of the Year winners and title-holders from both the Bassmaster Elite Series and the FLW Tour.

Von Lichtenberg named GM of Fox 44-TV

Thu, 07/19/2018 - 10:42am -- tim

Vermont Business Magazine Nexstar Media Group, Inc (Nasdaq: NXST) announced today that Alexander von Lichtenberg has been named Vice President and General Manager of FOX affiliate WFFF-TV and associated mobile/digital services, including MyChamplainValley.com, serving Burlington, VT-Plattsburgh, NY (DMA #97). In his new role, he will also oversee Nexstar’s relationship with WVNY-TV, the market’s ABC affiliate owned by Mission Broadcasting, Inc, under a joint operating agreement. 

COCO sells Vermont and NH Jiffy Marts for $134 million

Thu, 07/19/2018 - 10:16am -- tim

Vermont Business Magazine Global Partners LP (NYSE: GLP), based in Waltham, MA, announced on Wednesday that it has completed the acquisition of retail fuel and convenience store assets of Vermont-based Champlain Oil Company, Inc. The acquisition includes 37 company-operated gas stations with Jiffy Mart-branded convenience stores in Vermont and New Hampshire, and approximately 24 fuel sites that are either owned or leased including lessee dealer and commission agent locations. The transaction also includes term fuel supply agreements for approximately 65 gas stations, primarily in Vermont and New Hampshire. The 126 stations primarily market major fuel brands such as Mobil, Shell, Citgo, Sunoco and Irving. The purchase price, excluding inventory, was approximately $134 million, subject to post-closing adjustments.

Vermont Open Farm Week returns August 13-19

Thu, 07/19/2018 - 9:36am -- tim

Vermont Business Magazine For the fourth consecutive year, farmers across Vermont will once again open their barn doors and garden gates to welcome the public for a behind-the-scenes look at Vermont’s vibrant working landscapes. Vermont Open Farm Week 2018 will be held Monday, Aug. 13 through Sunday, Aug. 19, and feature 63 events at 43 farms across the state. Events are live and sorted by day and location on DigInVT.com.

Berkshire Hills reports 73% increase in 2Q earnings

Thu, 07/19/2018 - 7:06am -- tim

Vermont Business Magazine Berkshire Hills Bancorp, Inc (NYSE: BHLB) reported second quarter 2018 net income of $34 million, which was a 73% increase over 2017 second quarter net income of $20 million. This primarily reflected the benefit of Berkshire's Greater Boston expansion through acquisition and business development, resulting in higher market share, increased efficiency, and record profitability.

How Vermont beer makers brew up energy savings

Thu, 07/19/2018 - 6:40am -- tim

by Morgan Hood, Efficiency Vermont Big things are brewing at Magic Hat Brewing Company in South Burlington. That’s where skilled beer makers from five Vermont breweries gathered recently with energy efficiency experts from Efficiency Vermont, Burlington Electric Department, and Loureiro Engineering Associates for a three-day intensive dive into energy use. As Magic Hat’s designated energy advisor at Efficiency Vermont, I was fortunate to work alongside this accomplished group of brewers as they learned how to find and address the causes of unnecessary energy use. The time was well spent; the group identified potential energy savings of as much as $320,000 per year for Magic Hat, preventing power-plant pollution equivalent to a year’s emissions from 167 cars.

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