News
NBT Bank, NA, of Norwich, NY, is planning to open a commercial lending office on Bank Street in Burlington. The office will be located in the former Vermont National Bank building, which more recently was used by Chittenden Bank. The bank's parent company, NBT Bancorp, announced it was moving into Vermont yesterday during its annual shareholders' meeting.
Week Ending May 2, 2009. There were 1,104 new regular benefit claims for Unemployment Insurance last week, a decrease of 397 from the week before. Altogether 18,005 new and continuing claims were filed, 425 less than a week ago and 8,237 more than a year earlier.
The Senate has passed H 446, An Act Relating to Renewable Energy and Energy Efficiency. H 446 creates standard offer rates to encourage the rapid development of renewable energy technologies. Rates are based on today s costs and as the technology progresses, rates will be decreased. The Vermont Public Service Board will review and reset the rates every two years.
FairPoint Communications, Inc. (NYSE: FRP) has announced its financial results for the three months ended March 31, 2009. The landline telephone company reported a loss of $8.8 million on $311.6 million in revenues, compared to a pro forma loss of $9.5 million for the same period in 2008 on $349,418 in revenues.
Legislators, including Rep. Mike Marcotte, Vice Chair of the House Commerce Committee, Department of Labor Commissioner Patricia Moulton Powden, business owners, and leaders of the state s business organizations held a press conference today regarding fiscal challenges facing the Unemployment Insurance (UI) trust fund.
Vermont wine makers will now have an expanded ability to sample and sell their own and other manufacturers' products at their vineyards. Governor Douglas yesterday at Shelburne Vineyards signed into law S27, an act relating to tastings and sale of wines, fortified wines and spirits.
Legislative leaders announced today that they had put together a package of tax increases, budget cuts and some of the state's "rainy day" funds to offset a $100 million General Fund budget deficit.
US Reps. Peter Welch (D-Vt.) and Ted Poe (R-Texas) joined Academy Award-winning actor Robert Duvall at Wilderness Battlefield today to speak out against Wal-Mart s plans to build a super store on the historic Virginia site.
If built, the store would stand across the road from the national park commemorating the bloody struggle and within the battlefield s historic footprint.
Winooski s downtown has been designated a Vermont Neighborhood under a housing bill passed last year, making it eligible for benefits designed to aid in the development of lower-cost housing.
Entergy Corporation (NYSE: ETR) today reported first quarter 2009 as-reported earnings of $235.3 million, or $1.20 per share, compared with $308.7 million, or $1.56 per share, for first quarter 2008. On an operational basis, Entergy's first quarter 2009 earnings were $252.6 million, or $1.29 per share, compared with $308.7 million, or $1.56 per share, in first quarter 2008.
The US Army Aviation and Missile Command Contracting Center has awarded General Dynamics Armament and Technical Products an order valued at approximately $150 million to produce Hydra-70 rockets, warheads and motors. Deliveries are expected to begin in September 2010. This order was awarded under a five-year contract originally signed in 2005.
The state Senate yesterday passed a Vermont Yankee decommissioning bill that is a significantly watered down version of one that passed the House, but which still requires the current owners of the Vernon nuclear power plant to cover the cost of decommissioning the plant, whenever that might be.