News

At a series of public information meetings held on Saturday, officials from the states of New York and Vermont presented six concept plans for a replacement to the Champlain Bridge. The bridge was permanently closed on October 16 for structural defects. The closing caused much disruption in transportation on the western side of Vermont, especially for commuters.

Vermont's priorities fared well Sunday, during a rare weekend session, as Congress gave final approval to a package of six annual appropriations bills. The budget package will fund much of the federal government through the remainder of the fiscal year.

Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) (“GMCR”) today announced that it is commencing a cash tender offer to purchase all outstanding shares of common stock of Diedrich Coffee, Inc. (NASDAQ: DDRX) (“Diedrich Coffee”) for $35.00 per share in cash, with no financing and no due diligence contingencies, in a transaction with a total value of approximately $290 million.

Today the New York State Department of Transportation (NYSDOT) and Vermont Agency of Transportation (VTrans) announced that, as part of an expedited process to demolish the existing Lake Champlain Bridge and build a replacement at the same location, NYSDOT contractor Harrison & Burrowes Bridge Constructors, Inc. (H&B) has secured an expert subcontractor to demolish the existing bridge.

As of this morning, Central Vermont Pubic Service's restoration effort is nearly complete from the snow and wind that knocked out power to 19,000 customers Wednesday. There were about 42 customers in Starksboro still without power from the storm, and a few scattered outages across the state, caused by high winds last night.

AM Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of National Guaranty Insurance Company of Vermont (NGIC) (Burlington, VT). The outlook for both ratings is stable.

The market value of the Vermont Yankee decommissioning trust fund accounts is now at $428,451,492, according to Entergy Vermont Yankee. That is a gain of more than $80 million in value in one year. The Vernon, Vermont, based nuclear power plant is seeking to extend the plant's license for 20 years beyond 2012, when the original 40-year license is scheduled to expire.

Shelburne Museum has been awarded a $600,000 Save America's Treasures grant from the Institute of Museum and Library Services. The grant will be used to install a fiber optic communications system connecting the museum's exhibit buildings on the 45-acre grounds.

Employees of Williston-based Hampton Direct, an international leader in the booming “As Seen on TV” Industry will decide tomorrow, December 11, how to divide the company’s $20,000 donation to local charities.

The Senate Judiciary Committee Thursday approved legislation to establish a qualified privilege for journalists to protect their confidential sources and the public’s right to know. The bipartisan Free Flow of Information Act was first listed for Committee consideration in April, and Chairman Patrick Leahy (D-Vt.) has worked with the bill’s chief sponsors to move the legislation forward.

Using a “buy local” approach, a new State program aims to support the growth and success of the investment management business in Vermont. The Vermont Pension Investment Committee (VPIC) recently contracted with two Vermont-based firms to manage a portion of the roughly $2.9 billion in assets for the State pension systems.

On Tuesday, December 15, the State Board of Education will hold its monthly meeting at the Capitol Plaza in Montpelier. At 1:15 p.m. the Board will hear a presentation from the Transformation Policy Commission, charged in early 2009 with proposing key policy actions that could support transformation.