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Andrew arrested for federal financial crimes

Wed, 04/28/2021 - 3:16pm -- tim
An educational entrepreneur and a public face of the nonprofit that purchased the Marlboro College campus in 2019, Seth Andrew pleads not guilty to stealing $218,005 from three of the charter schools he founded and once ran
by Olga Peters/The Commons. Additional reporting by Jeff Potter The principal figure in an educational nonprofit’s acquisition of the former Marlboro College campus in 2019 was arrested early Tuesday morning in New York City on three charges of financial fraud. Seth Andrew has been removed as president of Democracy Builders Fund, the owner of the campus on South Road in Marlboro, and from the board of directors of Degrees of Freedom, the program emerging on Potash Hill. He has entered a plea of not guilty to federal charges of wire fraud, money laundering, and making false statements to a bank, and he faces a preliminary hearing in US District Court for the Southern District of New York on May 27.

Champlain president leaves after less than year, Finney to return as interim

Wed, 04/28/2021 - 12:59pm -- tim

Vermont Business Magazine Champlain College President Benjamin Ola. Akande is returning to St Louis to assume a leadership role at one of the nation’s largest investment banking and financial services firms. His last day as president will be May 31, 2021. The Board of Trustees has accepted his resignation as announced in an email to the college community today.

VT defense manufacturers invited to try new technologies for training and maintenance

Wed, 04/28/2021 - 10:49am -- tim

Vermont Business Magazine The New England Regional Defense Industry Collaboration (NERDIC) kicked off an Industry 4.0 series of workshops to support competitive advantages and growth of our regional defense supply chain. In the first of the Tuesday noontime webinars, Stanley X, in partnership with DeepHow, shared their AI-powered solution to capture, train and transfer knowledge among skilled workers. 

Collins sponsors high-tech manufacturing training initiatives at Hannaford Career Center

Wed, 04/28/2021 - 10:44am -- tim

Vermont Business Magazine The Patricia A Hannaford Career Center (HCC) has announced that Collins Aerospace, Vergennes, Vermont, has provided HCC and its maker-space, The Makery, $5,000 to support its growing high-tech manufacturing training programs. A portion of these funds was used to purchase a GlowForge Laser Cutter with the remainder of the funds planned for additional equipment purchases that support HCC’s workforce development initiatives. 

Vermont has third highest increase in real home prices

Wed, 04/28/2021 - 10:39am -- tim

Vermont Business Magazine Vermont has the third highest increase in real home value in the nation.  First American Real House Price Index (RHPI) measures the price changes of single-family properties throughout the US adjusted for the impact of income and interest rate changes on consumer house-buying power over time at national, state and metropolitan area levels. Because the RHPI adjusts for house-buying power, it also serves as a measure of housing affordability.

Economic recovery bridge grants announced by ACCD

Wed, 04/28/2021 - 8:53am -- tim

Vermont Business Magazine On April 17th, H.315 was enacted (Act 9). The Act appropriates $10 million of funds from the American Rescue Plan Act (ARPA) to ACCD to provide priority funding to businesses that have not received prior State or Federal financial assistance. To the extent that funds remain available, the program is also intended to provide funding to businesses that have suffered a tax loss even after receiving State or Federal aid.

NBT Bancorp announces 1Q21 net income of $39.8 million

Wed, 04/28/2021 - 6:11am -- tim

Vermont Business Magazine NBT Bancorp Inc (NASDAQ: NBTB) has reported net income and diluted earnings per share for the three months ended March 31, 2021. Net income for the three months ended March 31, 2021 was $39.8 million, or $0.91 per diluted common share. Net income increased $5.7 million from the previous quarter primarily due to lower provision for loan losses and branch optimization charges recognized in the previous quarter. Net income increased $29.5 million from the first quarter of 2020 due to the adoption of the Current Expected Credit Losses accounting methodology.

DesLauriers: Childcare is critical to Vermont’s workforce

Wed, 04/28/2021 - 4:16am -- tim

by Lindsay DesLauriers With the end of the ski season, and now thankfully, the end of the pandemic seemingly in sight, I finally have a little time to pause and take stock of the past year. Uncertainty and the ski industry (like any weather dependent business) are old friends, but making a plan to operate during COVID-19 was on a whole new level. On balance, I’m happy to say, Bolton Valley fared pretty well.  It turns out that, in the midst of the pandemic, skiing became a respite of sorts for people who craved to escape the four walls of their homes, let loose a little bit, and interact with other people in a safe way. I’m sure it comes as no surprise to anyone that the other major parts of our operation – our restaurants and lodging – were hit pretty hard.  However, in the final analysis, the hardest hit part of our operation was actually our childcare program.   

LMS receives FAA Part 145 Repair Station certification

Wed, 04/28/2021 - 3:31am -- tim

Vermont Business Magazine Liquid Measurement Systems, Inc (LMS) has announced that its Georgia, Vermont, facility has been awarded Part 145 Repair Station certification by the Federal Aviation Administration (FAA). The new capability supports LMS’ primary business in the delivery of best-in-industry fuel measurement solutions for aerospace applications, designing, certifying and manufacturing electro-mechanical systems and components for both commercial and military aircraft

Vermont Flower Show to skip another year until March 2023

Wed, 04/28/2021 - 3:07am -- tim

Vermont Business Magazine As producers of the Vermont Flower Show, the first priority of the Vermont Nursery and Landscape Association Board of Directors is the safety of all attendees, vendors, and volunteers who participate in our signature event, the Vermont Flower Show.  It has been a full year plus of living with a pandemic and the good news is vaccinations are ramping up and the spread of the virus seems to be moving in the right direction.  With that said there is still uncertainty about how all of this is going to evolve and change over the next 6-8 months. In an abundance of caution, the VNLA has made the call to postpone our show until MARCH 3-5, 2023.

Northern Vermont University announces speakers for Commencement 2021

Tue, 04/27/2021 - 5:38pm -- tim

Vermont Business Magazine Northern Vermont University has announced the guest speakers for Commencement 2021. Dr Francois S Clemmons will address the NVU-Johnson graduating class and Dr Henry S Parker will address the NVU-Lyndon graduating class. Though the ceremonies for both campuses will be held virtually this year, they will include time-honored traditions. The commencements will premiere on YouTube on Saturday, May 15 at 11 am (Johnson Campus) and Sunday, May 16 at 11 am (Lyndon Campus).

VDH COVID-19 Update: Vermont high in vaccine, low in cases

Tue, 04/27/2021 - 5:26pm -- tim

Vermont Business Magazine State officials said at Tuesday’s press conference that Vermont’s COVID-19 data continues to trend in a positive direction and that we are ranked one of the top states in our vaccination progress. The state ranks first or second in nearly every category. As the Johnson & Johnson vaccine restarts, it will take a couple of weeks before there is a substantial new supply, but the state will see a net increase in vaccine this week when all three vaccines are factored in. The VDH is also reporting 59 new cases of COVID-19, as cases continue to trend well under 100. Weekly totals are at their lowest levels this year. However, there was one more death reported for 245 statewide. Nearly 60 percent of adult Vermonters have now received at least one dose of vaccine.