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Leahy, Sanders react to President Trump’s Middle East ‘deal of the century’

Tue, 01/28/2020 - 2:48pm -- tim

Senator Patrick Leahy The one-sided Middle East plan that the President has announced is a striking example of President Trump’s familiar playbook of delusional hyperbole over reality. After years of empty promises while systematically dismantling decades of bipartisan US policy in order to benefit only one party, it is farcical to call something a ‘deal’ and impose it on the other party knowing it will be rejected. It is a plan that would diminish the prospects for peaceful coexistence, while damaging our country’s hard-won role as a force for stability in the Middle East, which also has implications for US security interests in the region and beyond.

Norwich University names Colonel Mark Anarumo as 24th president

Tue, 01/28/2020 - 11:43am -- tim

Vermont Business Magazine Norwich University Board of Trustees Chairman Alan DeForest ’75 announced today that Colonel Mark Anarumo, USAF, will become Norwich University’s 24th president effective June 1, 2020. DeForest, along with Anarumo and university officials, made the announcement at an 11 am press conference held on the Northfield campus in Mack Hall Auditorium, which was followed by an open reception in the lobby. He will take over from retiring President Richard Schneider, RADM, USCGR (Ret.), who has served since 1992.

DFR’s 2019 consumer protection activity results in $5.3 million for Vermonters

Tue, 01/28/2020 - 11:32am -- tim

Vermont Business Magazine During the year, DFR received over 3,000 consumer inquiries resulting in 457 formal complaints against financial services firms. Investigations into these complaints, and subsequent enforcement actions, resulted in DFR ordering $2,734,493 be paid to consumers in financial restitution and an additional $2,640,400 be paid in financial penalties. This represents a 32 percent increase in penalties and restitution compared to the previous year.

2020 Vermont personal income tax season now open

Tue, 01/28/2020 - 11:27am -- tim

Vermont Business Magazine The 2020 tax season officially opened on January 27 at both the federal and state levels. This is the date that the IRS and Vermont began accepting and processing personal income tax returns for tax year 2019. The Vermont Department of Taxes recommends filing electronically (e-file) through a commercial software vendor to increase accuracy and have your refund processed sooner. In 2019, 86 percent of all Vermont personal income tax returns were filed electronically. Last year, taxpayers who e-filed their returns on average received their refunds more than twice as fast as those who filed paper returns.

NBT announces record net income for FY19, declares cash dividend

Tue, 01/28/2020 - 10:54am -- tim

NORWICH, NY (January 27, 2020) – NBT Bancorp Inc, based in Norwich, NY, with branches in northwest Vermont (NASDAQ: NBTB), reported record net income and diluted earnings per share for the year ended December 31, 2019. Net income for the year ended December 31, 2019 was $121.0 million, up 7.5% from $112.6 million for the prior year. Diluted earnings per share for the year ended December 31, 2019 was $2.74, as compared with $2.56 for the prior year, an increase of 7.0%.

Vermont closely monitoring global coronavirus developments

Tue, 01/28/2020 - 9:29am -- tim
Risk here is low, but take everyday steps to prevent exposure and illness

Vermont Business Magazine Vermont health officials are closely monitoring a new coronavirus that was first identified in Wuhan, China, and has resulted in a global outbreak of a sometimes-deadly respiratory illness formally known as 2019-nCoV. Thousands of cases have been identified in China, with more in other countries. Five cases in travelers from Wuhan have been confirmed in four states (AZ, CA, IL, WA) as of January 27, 2020. There are no suspected cases in Vermont.

McClaughry: GWSA, the worst democracy-shredding bill in 50 years

Tue, 01/28/2020 - 3:14am -- tim

by John McClaughry Over the past 50 years I have seen a lot of bills introduced into the Vermont legislature. Of all the bills over all those years, the absolute worst was just introduced in the House, with 87 co-sponsors (all Democratic and Progressive). It’s titled the Global Warming Solutions Act (GWSA, H688). The Climate Action Coalition believes that the planet faces a “climate emergency” due to human-caused carbon dioxide emissions. Every year for the past five years its dozens of lobbyists have labored to persuade the legislators to take bold and far-reaching steps to drive down those emissions. The centerpiece of those efforts has been a carbon tax. The argument has three components. First, we must drive down the use of carbon-based fuels by Vermonters using heating oil, natural gas, gasoline, diesel and propane.

Electronic health records vendor to pay largest criminal fine in Vermont in opioid case

Mon, 01/27/2020 - 7:47pm -- tim

Vermont Business Magazine Practice Fusion, Inc, a San Francisco-based health information technology developer, will pay $145 million to resolve criminal and civil investigations relating to its electronic health records (EHR) software, the Department of Justice announced today. As part of the criminal resolution, Practice Fusion admits that it solicited and received kickbacks from a major opioid company in exchange for utilizing its EHR software to influence physician prescribing of opioid pain medications. Practice Fusion has executed a deferred prosecution agreement and agreed to pay over $26 million in criminal fines and forfeiture.  

Molly Gray joins race for lieutenant governor

Mon, 01/27/2020 - 3:56pm -- tim

Vermont Business Magazine Assistant Attorney General Molly Gray announced today that she is running for Lieutenant Governor of Vermont. She joins an ever-crowding field that includes Senate President Pro Tem Tim Ashe (D/P- Burlington); Democrat Brenda Siegel of Newfane; Democratic State Senator Deb Ingram of Williston; and Republican Meg Hansen, of Manchester. The rush to join the race follows incumbent David Zuckerman's decision to challenge Governor Phil Scott.

Mascoma closes $900,000 NMTC to expand local grocery access in Burlington’s Old North End

Mon, 01/27/2020 - 2:51pm -- tim

Vermont Business Magazine Mascoma Community Development (MCD) has announced the closing of $900,000 in New Markets Tax Credit (NMTC) allocation to support the development of a retail space within Burlington’s Old North End neighborhood. The space will be specifically tailored to accommodate a locally owned grocery store, as well as a bank “micro branch.” Jake’s ONE is located at 242 North Winooski Ave.

Randy George: Why the paid family bill misses the mark

Mon, 01/27/2020 - 2:43pm -- tim

by Randy George, Red Hen Baking Though the 2020 legislative session has only just begun, the legislature is already faced with a defining question: how to create and implement a paid family and medical leave program that protects all working Vermonters. While most people agree that such a program is necessary and in fact will support the health, well-being, and economic security of Vermont’s children, families, and small businesses, the devil remains in the details.

Mascoma closes $2 million New Markets Tax Credits to provide home for arts in Burlington

Mon, 01/27/2020 - 2:06pm -- tim

Vermont Business Magazine Mascoma Community Development (MCD) has announced the successful closing of $2 million in New Markets Tax Credit (NMTC) allocation to support the development of a community arts center at 405 Pine Street (Burlington City Arts Foundation/Burlington City Arts) in Burlington. The space will become the permanent home of Burlington City Arts’ (BCA) programs and services. The new center will become a local cornerstone for nurturing creativity and imagination through the arts.