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People's United reports 4Q2019 net income of $137.5 million

Thu, 01/16/2020 - 4:47pm -- tim

Vermont Business Magazine People's United Financial, Inc (NASDAQ: PBCT) today reported results for the fourth quarter and full year 2019. They also announced that its Board of Directors declared a quarterly cash dividend of $0.3515625 per share on the Company's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock. The dividend is payable on March 15, 2020 to shareholders of record at the close of business on March 1, 2020.

Fitch upgrades VHFA bonds to AA+

Thu, 01/16/2020 - 4:40pm -- tim

Vermont Business Magazine Strong financial performance contributed to a rating upgrade from AA to AA+ for Vermont Housing Finance Agency (VHFA)'s multiple purpose bonds from Fitch Ratings last week. AA+ is the second highest possible rating from Fitch. The rating applies to all outstanding long-term debt under the multiple purpose program and should help lower the cost of affordable housing financing through VHFA.

Marathon Health and OurHealth combine forces

Thu, 01/16/2020 - 4:17pm -- tim

Vermont Business Magazine Winooski-based Marathon Health and OurHealth from Indianapolis, each a leading provider of onsite and nearsite health centers for employers, has announced a strategic combination of the two companies that brings together patient-focused primary care capabilities to serve employees and their families across the United States. The combined company will leverage the proven onsite and nearsite health center strategies of Marathon Health and OurHealth, including OurHealth’s MyClinics, a network of clinics available in several markets today, to serve employer populations of all sizes. General Atlantic, a leading global growth equity firm and existing investor in Marathon Health, will be the majority shareholder of the combined organization

Report highlights positive impact of public investment on water quality

Thu, 01/16/2020 - 3:56pm -- tim

Vermont Business Magazine A newly released report from the Agency of Natural Resources shows water quality improvement in Vermont as a result of public investment over the past four years. The Vermont Clean Water Initiative 2019 Performance Report details state investment in water quality projects, totaling $138 million, to support projects on 28,000 acres of agricultural lands, 169 miles of municipal roads and 222 acres of pavement or other hard surfaces. These investments also helped to conserve or restore nearly 2,000 acres of river corridors, floodplains, lakeshores, forests and wetlands.

Vermont health officials declare hepatitis outbreak

Thu, 01/16/2020 - 3:41pm -- tim

At-risk populations should get vaccinated

Vermont Business Magazine The Vermont Department of Health is reporting a statewide outbreak of hepatitis A, joining 30 other states including New Hampshire and Massachusetts. Health Commissioner Mark Levine, MD said the outbreak here is in the early stages, but that case number trends have prompted the department to make the formal declaration.

'Choose Vermont Scholarship' to award $60,000 to incoming college students

Thu, 01/16/2020 - 3:34pm -- tim

Vermont Business Magazine The Vermont Agency of Commerce and Community Development, Vermont Student Assistance Corporation and 13 Vermont colleges and universities are announcing the 2020 Choose Vermont Scholarship Program, which will award $60,000 in scholarship money to students who commit to attend a Vermont school by June 1. Both out-of-state and Vermont students are eligible to enter. The program was developed through a partnership across Vermont’s higher education sector to market Vermont as a top destination for attending college. The campaign targets students already accepted to a Vermont school, encouraging them to take the next step and “Choose Vermont.”

Norwich University signs agreement with U.S. Navy Senior Enlisted Academy on credit transfer and tuition discounts

Thu, 01/16/2020 - 3:18pm -- Brandon

Vermont Business Magazine Norwich University’s College of Graduate and Continuing Studies (CGCS) renewed an agreement with the U.S. Navy Senior Enlisted Academy (Navy SEA) January 3, 2020, so that Navy SEA graduates can enter into a Norwich online bachelor’s degree program, master’s degree program, graduate level certificate program or a Norwich Pro continuing professional education certificate program with either maximum credit transfer or tuition discount eligibility.

Denver man sentenced to 44 months imprisonment and $200,000 restitution after conviction for bank fraud and aggravated identity theft

Thu, 01/16/2020 - 3:15pm -- Brandon

Vermont Business Magazine The Office of the United States Attorney for the District of Vermont announced that Harrel Keeling, 44, of Denver, Colorado, was sentenced today for Bank Fraud and Aggravated Identity
Theft. United States District Judge Christina Reiss sentenced Keeling to a 44-month total term of imprisonment, followed by a 5-year total term of supervised release, and ordered Keeling to
pay $200,000 in restitution to the victim of his offense.

AG joins lawsuit to stop cuts to food assistance

Thu, 01/16/2020 - 3:12pm -- tim

Vermont Business Magazine Attorney General TJ Donovan today joined a group of 15 attorneys general and New York City in a lawsuit to stop the Trump Administration from eliminating food assistance for nearly 700,000 Americans, including more than 200 Vermont households. The lawsuit, filed in the District of Columbia, challenges a US Department of Agriculture (USDA) rule that would limit states’ ability to extend benefits from the Supplemental Nutrition Assistance Program (SNAP), known in Vermont as 3SquaresVT, beyond a three-month period for certain adults. The coalition asserts that the rule directly undermines Congress’ intent for the SNAP program, and that the USDA violated the federal rule-making process by not allowing for a meaningful opportunity to comment on the new rule. Attorney General Donovan and his counterparts are urging the Court to declare the rule unlawful and issue an injunction to prevent it from taking effect on April 1, 2020.

Mark Hulett sentenced for possession of child pornography

Thu, 01/16/2020 - 3:09pm -- Brandon

Vermont Business Magazine The Office of the United States Attorney for the District of Vermont stated that on January 16, 2020, Mark Hulett, 48, of Ferrisburgh, Vermont, was sentenced in United States District Court in Rutland to serve 120 months in prison after his guilty plea to one count of possession of child pornography. Chief U.S. District Judge Geoffrey W. Crawford also ordered Hulett to serve a ten-year term of supervised release, and to pay a $100 special assessment.

Welch introduces legislation to reduce energy and water consumption by Feds

Thu, 01/16/2020 - 2:35pm -- tim

Vermont Business Magazine Representatives Peter Welch (D-Vermont) and Adam Kinzinger (R-IL) today introduced legislation to authorize the Department of Energy’s Federal Energy Management Program (FEMP). FEMP is currently charged with reducing energy use in federal buildings but has never received a formal authorization from Congress. The Welch-Kinzinger bill authorizes the program for five years, adds water use reduction to its mission, and sets ambitious goals for agencies to reduce water and energy use in federal facilities.

Community marketing campaign 'Love Brattleboro VT' leads with town’s strengths

Thu, 01/16/2020 - 11:04am -- Brandon

Vermont Business Magazine The Brattleboro Area Chamber of Commerce and Downtown Brattleboro Alliance announced today the launch of their new six-month LOVE BRATTLEBORO VT marketing campaign to bring more visitors to this designated historic town with its eclectic shops and stunning location on the Connecticut River.