Vermont Business Magazine GlobalFoundries Inc (GF) (Nasdaq: GFS) today announced preliminary financial results for the first quarter ended March 31, 2022. GF operates a manufacturing plant that fabricates integrated circuits in Essex Junction, Vermont. GF is headquartered in Malta, NY. Record revenue of $1.94 billion, up 37% year-over-year; Record gross margin of 24.2% and adjusted gross margin of 25.3%; Record operating margin of 11.6% and adjusted operating margin of 14.4%; Record net income of $178 million and adjusted net income of $232 million; Record adjusted EBITDA margin of 36.0%; Cash and cash equivalents of $3.26 billion.
Vermont Business Magazine Gifford will distribute meals for Upper Valley Everyone Eats this month on Tuesday, May 24th between 5 – 5:30 pm at Gifford’s South Parking lot. This is the second of three meal distributions by Upper Valley Everyone Eats. The meals, provided by Randolph-based restaurant Tacocat Cantina, are available by reservation.
Vermont Business Magazine The Vermont Department of Health today is reporting 248 cases of COVID-19 for Monday (174 Sunday; 273 Saturday; 382 Friday). VDH also reported four additional deaths from the virus. The total death toll is now 648 lives lost. There are nine reported deaths in May so far. There were 18 deaths in April, which surpassed March's total (17). March saw the fewest COVID deaths since last July. Fatalities and hospitalizations increased the last part of April. Most recent deaths have been of the very elderly and/or people with underlying health conditions and "not up to date" on their vaccines, meaning eligible to have received a booster. All of today's deaths were of people who were at least 70.
Vermont Business Magazine Saying he will champion social equity and community justice while improving public safety, Williston attorney Ted Kenney announced his candidacy today for Chittenden State’s Attorney. Kenney will oppose incumbent Sarah George in the Democratic primary August 9. Kenney has been an attorney since 1991 and a member of the Williston Selectboard for 12 years. He is currently vice-chair.
Vermont State Police During search efforts Tuesday morning, May 10, 2022, crews located a body believed to be that of Richard C. Gammell Sr., 84, of St. Johnsbury. Two wardens with the Vermont Department of Fish & Wildlife located the body along the banks of the Connecticut River. The wardens had set out in a canoe at about 8:45 a.m. and were more than three miles downstream from the location where Mr. Gammell had entered the river in February when they spotted the body shortly before 11 a.m.
The Office of the United States Attorney for the District of Vermont announced that Gavin Wilcox, 31, of Bennington, Vermont was arraigned today on an indictment that alleges Wilcox unlawfully possessed a firearm on March 31, 2022. At today’s hearing, U.S. Magistrate Judge Kevin J. Doyle ordered Wilcox detained pending trial. When officers apprehended Wilcox, he dropped 11 baggies of suspected heroin from his hand. A search warrant was obtained for Wilcox’s backpack, during the execution of which detectives located a loaded Smith & Wesson Model 386 .357 magnum Pro Series revolver.
Vermont Business Magazine Mayor Miro Weinberger and the City Council advanced a resolution during tonight’s Council meeting to chart a path toward further fossil fuel reductions in buildings throughout Burlington. The vote to pass the resolution was unanimous. The resolution, which was sponsored by East District City Councilor Jack Hanson, seeks policy recommendations in the coming months from Burlington Electric Department and the Department of Permitting and Inspections which are aimed at reducing fossil fuel use and greenhouse gas emissions in new construction, major renovation, municipal buildings, and large commercial buildings.
47 Towns Representing 35% of Vermont’s Population Have Adopted the Declaration of Inclusion
Vermont Business Magazine On Friday, May 6th, Governor Phil Scott signed a proclamation declaring the second week of May “Inclusion Week” in Vermont. The proclamation reaffirms Vermont’s commitment to eliminating hatred and bigotry in all systems and institutions to improve outcomes for all Vermonters and build more multicultural and socially cohesive communities. Inclusion Week is a byproduct of the Declaration of Inclusion initiative, an ongoing statewide diversity, equity, and inclusion effort to reinforce welcoming and belonging for all people in all Vermont communities.
Vermont Business Magazine The Vermont Warden Service has closed its investigation into the fatal shooting of a German shepherd dog in Tunbridge. After discussion with the Orange County State’s Attorney’s office, Damon Dyer, 31, of Tunbridge was issued a citation for one count of cruelty to animals, Title 13 V.S.A. 352 (1). Mr. Dyer is scheduled to appear in Orange County Court on June 29, 2022, to answer the charge.
Vermont Business Magazine Dan Schulman, president and CEO of PayPal, the digital payment services company, will deliver the 2022 Middlebury College Commencement address on Sunday, May 29, 2022. One of the country’s leading CEOs, Schulman has advocated for companies to help shape society for the better by sharing their financial success with their employees. He is also widely recognized for his commitment to social change and his passion for equity, justice, and basic human rights. Jason Collins, a retired NBA player, will deliver the COVID-delayed Middlebury Commencement address to the Class of 2020 at an in-person ceremony on Tuesday, May 31. Collins was the first male active player in any of the four major American professional sports to announce that he was gay.
Vermont Business Magazine A new space was unveiled at Burlington International Airport on Tuesday to give kids a place to place and adults to relax as they travel. The National Life Let’s Grow Kids Zone is a partnership between National Life Group, Let’s Grow Kids, Burlington International Airport, and Beta Technologies. The Kids Zone includes playscapes that are developmentally appropriate for children while providing incredible views of the runway and the Green Mountains. It also has rocking chairs and charging stations for adults and a state-of-the-art skyscape ceiling thanks to Beta Technologies.
Vermont Business Magazine More than 70 businesses and organizations that employ Vermont workers have been selected to receive a 2022 Vermont Governor’s Award for Excellence in Worksite Wellness. Developed more than 20 years ago by the Vermont Governor’s Council on Physical Fitness and Sports and presented in partnership with the Vermont Department of Health, the annual awards provide an opportunity for the governor and health commissioner to thank businesses and organizations for their efforts to support Vermonters’ health and make Vermont a great place to live and work.