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VEDA accepting applications for new agricultural stimulus financing

Thu, 04/23/2009 - 8:55am -- tim

Farmers may apply immediately for the new agricultural stimulus financing available through VEDA s farm lending program, the Vermont Agricultural Credit Corporation (VACC). VACC has up to $6 million in low-interest financing available, made possible by $1 million in federal economic stimulus funds from Vermont s share of the American Recovery and Reinvestment Act.

New AARP report shows support for transportation alternatives

Thu, 04/23/2009 - 8:02am -- tim

Is it time to look at Vermont s transportation system or the lack of one? That is a question being explored by AARP and a number of other groups around Vermont. An AARP report released today shows that significant groups of Vermonters are unable to get where they need to go particularly older and lower income residents. As a strong consumer advocate, AARP is committed to supporting efforts that foster independence and livable communities or communities that have affordable and accessible housing, community engagement opportunities, and offer a range of mobility options.

House passes bill to promote renewable energy development, create green jobs

Wed, 04/22/2009 - 12:18pm -- tim

The House has passed the Renewable Energy and Green Jobs Bill, H.446, to promote in-state renewable energy development and create well-paying green jobs for Vermonters around the state. The bill will encourage community-scale renewable energy developments and expedite the delivery of $21 million in stimulus funds for green energy projects. It is estimated that 15-20 jobs will be created per megawatt of installation every year.  The bill passed third reading by a 2-to-1 margin, 88-44.

On $26.1 million net increase, divided Senate votes to raise some taxes, cut others

Wed, 04/22/2009 - 10:58am -- tim

A wildly fluid package of tax increases that crossed party allegiances was passed by the Senate Wednesday by a thin 18-12 vote. The slew of tax changes would result in a increase of $26.1 million in new revenues. A $4.55 billion budget then breezed through the Senate on a 27-3 vote. Senate President Pro Tem Peter Shumlin pushed the tax package through the upper house despite objections from deep within his own party.

Weekly unemployment claims increase at faster pace

Wed, 04/22/2009 - 10:54am -- tim

Week Ending April 18, 2009. There were 1,598 new regular benefit claims for Unemployment Insurance last week, an increase of 160 from the week before. Altogether 18,991 new and continuing claims were filed, 499 more than a week ago and 8,233 more than a year earlier. The Department also processed 2,070 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 12 more than a week ago. In addition, there were 1,260 Second Tier claims for benefits processed under the EUC08 program which is an increase of 58 from the week before.

Canadian manufacturer expands into St Albans

Wed, 04/22/2009 - 9:51am -- tim

Governor Jim Douglas has welcomed a Quebec-based transformer manufacturer opening a factory in Vermont. The firm estimates it will create 16 jobs this year and up to 43 workers by the end of 2011. In a ceremony at the company s new facility in the St Albans Industrial Park, the governor introduced BEMAG Transformers, Inc and celebrated the company s selection of Vermont for their expansion project. The state used $267,569 in incentives to lure the Canadian firm to Vermont, as well as $106,000 for training, and VEDA financing of $718,000.

Highway construction soars more than $250 million in first quarter

Wed, 04/22/2009 - 8:29am -- tim

March contracts for future construction in Vermont and New Hampshire soared in March 2009 as the federal stimulus package brought hundreds of millions of dollars into the two states for highway and bridge construction, according to the McGraw Hill Construction reports. Vermont March transportation contracts were $275.2 million, with the total for the first quarter of 2009 up 1,311.1 percent to $292.1 million. The transportation total for the first quarter is slightly more than the total for all of 2008 or 2007. New Hampshire's March transportation contracts were $114.5 million.

Congress passes resolution honoring captain Phillips

Wed, 04/22/2009 - 8:03am -- tim

The US House of Representatives passed a resolution Wednesday morning honoring Captain Richard Phillips of Underhill, his crewmembers aboard the Maersk Alabama and the United States Navy personnel who secured his release.
The resolution was authored US Representative Peter Welch and was cosponsored by 87 Members of Congress. It passed on a voice vote.

Senate passes clean energy bill

Wed, 04/22/2009 - 7:52am -- tim

The Vermont State Legislature passed the Clean Energy Assessments District bill (S.54) on April 21. The passage of this bill reflects the growing want and need of Vermonters to individually help move the state forward by finding new ways to save energy and to create renewable resources and alternatives for energy in order to combat climate change. This bill will make it much easier and more affordable for Vermont property owners to tackle individual energy efficiency projects. Towns will be able to use any of their financing mechanisms to help make money available for property owners.

TD Banknorth settles shareholder lawsuit for $50 million

Wed, 04/22/2009 - 7:44am -- tim

Coughlin Stoia Geller Rudman & Robbins LLP, a leading plaintiffs' firm based in San Diego, has announced the firm has secured a settlement of $50 million in cash for a class of TD Banknorth, Inc shareholders. Plaintiffs in a related action previously attempted to settle the case for under $3 million, or $.03 per TD Banknorth share. This victory for shareholders provides members of the class with an exponentially greater recovery than the related action was poised to provide before plaintiffs City of Dearborn Heights (MI) Act 345 Police & Fire Retirement System and H.

KeyCorp reports first quarter 2009 loss of $488 million

Wed, 04/22/2009 - 5:25am -- tim

KeyCorp (NYSE: KEY) today announced a first quarter net loss attributable to Key of $488 million, or $1.09 per common share, compared to net income attributable to Key of $218 million, or $.54 per diluted common share, for the first quarter of 2008. The loss for the current quarter was primarily the result of an increase in the provision for loan losses and a noncash accounting charge for intangible assets impairment.

Green Mountain Coffee announces $800,000 in winning climate change proposals

Wed, 04/22/2009 - 4:36am -- tim

In honor of Earth Day, Green Mountain Coffee Roasters has announced winners of its challenege to find potential soucltions to climate change.  More than 100 nonprofit organizations submitted proposals to address climate change in four specific areas: threats to coffee-growing cummunites, transportation-related emissions, building political will, and empowering individual action.  The four winning nonprofits will each receive a $200,000 grant, payable over five years.