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Heroic efforts kept Ticonderoga Ferry operating

Tue, 01/05/2010 - 9:53am -- tim

The Ticonderoga Ferry finally had to close last Sunday not because of the weather or desire, but because the owners could no longer get insurance to keep the vital link going. But thanks to Dock Doctors of Ferrisburgh, the small, cable-guided barge and the tug that provides its motive power kept going well beyond the mid-December date once given as an estimate of how long that route between Vermont and New York could be maintained.

Correction: Vermont family income fell to $66,444 in 2008

Tue, 01/05/2010 - 6:21am -- tim

In its December 15, 2009 press release, The Vermont Economy Newsletter reported a slight increase in Vermont median family income. We have discovered an error in the formula used to calculate the median income. The corrected data show a decline of $1,900 in inflation-adjusted median income, from $68,314 in 2007 to $66,444 in 2008, a decline of 2.7%.
The corrected graph is shown below.

Source: Northern Economic Consulting. 1.5.2010

Werner, Barwood, Corman new owners of Kinney Pike Insurance

Tue, 01/05/2010 - 6:14am -- tim

Kinney Pike Insurance, Inc. is proud to announce that effective December 31, 2009 Senior Officers Peter Werner, Justin Barwood and Doug Corman successfully purchased the agency from Kevin Tibbits, who has served as President and owner since September, 2000.
“These gentlemen have proven themselves to be effective leaders during their lengthy tenure with Kinney Pike,” Tibbits stated. “They have helped guide the agency and have been substantial contributors in every respect of our operation.”

Ali Sarafzade appointed head of Vermont Global Trade Partnership

Tue, 01/05/2010 - 5:59am -- tim

A Montpelier resident with experience in international finance has been hired to lead the state’s efforts in promoting trade between Vermont firms and other countries. Ali Sarafzade was named Director of the Vermont Global Trade Partnership (VGTP), the public-private partnership that serves as the state’s center for international business assistance, on Monday.

Economic Outlook Conference Jan 8: 'What is the New Normal?'

Mon, 01/04/2010 - 9:49am -- tim

National and regional economists will explore the 2010 economic environment in the coming year with a special focus on what the economic recovery will look like in 2010 and beyond. 
The 19th annual Vermont Economic Conference will be held on Friday, January 8, 2010 at the Sheraton Burlington Hotel and Conference Center and is hosted by The Vermont Economy Newsletter and sponsored by TD Banknorth, KPMG, and Entergy Vermont.  The times and topics for the speakers follow:

Welch unveils legislation to help Vermont confront unemployment insurance crisis

Mon, 01/04/2010 - 9:44am -- tim

US Rep. Peter Welch on Monday unveiled legislation to help Vermont businesses, workers and taxpayers confront the growing fiscal crisis caused by the depletion of the state’s Unemployment Insurance (UI) trust fund.
Alongside business, labor and state government leaders at a Montpelier press conference, Welch introduced a new bill, H.R. 4282, which would extend for two years an American Recovery and Reinvestment Act (ARRA) provision allowing states to avoid paying interest on loans to cover shortfalls in their UI trust funds.

Merchants Bank's new Woodstock Avenue branch opens January 15

Mon, 01/04/2010 - 8:47am -- tim

Executive Vice President Thomas S Leavitt is pleased to announce that the newest office of Merchants Bank will have its Grand Opening Celebration on January 15 from 10 am until 1 pm. The new facility, located at 92 Woodstock Avenue in Rutland, replaces and doubles the capacity of the previously operating branch at that same location.
The new full-service ADA-compliant branch includes four lobby teller stations; two drive-up service lanes; an additional ATM drive-up lane; and offices for Community Banking, Corporate Banking, Government Banking and customer service.

Vermont, NH remain popular in-migration states

Mon, 01/04/2010 - 7:03am -- tim

In the wake of our country's economic downturn, people are moving away from states with high unemployment, according to the 2009 Atlas Van Lines Migration Patterns study. Atlas' annual study has tracked the nation's moves since 1993. The Vermont unemployment rate was 6.4 percent in November and the New Hampshire rate was 6.7 percent, both well below the 10.0 percent national rate. Both states have been in-migration states over the last decade, including last year.

Ti Ferry closed, new ferry to open by end of January

Mon, 01/04/2010 - 6:25am -- tim

The Vermont Agency of Transportation (VTrans) and the New York State Department of Transportation (NYSDOT) have been informed that the Ticonderoga (Ti) Ferry has suspended service effective today. According to the Ti Ferry operator, the reason for the suspension is that the company currently was not been able to secure marine insurance beyond yesterday, January 3.