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President signs disaster declaration for Halloween storm

Fri, 01/17/2020 - 4:35pm -- tim

Vermont Business Magazine Governor Phil Scott today announced that President Donald Trump has signed a Major Disaster declaration for public infrastructure damage caused by severe storms and flooding throughout Vermont, which occurred on October 31 and November 1, 2019. The declaration will provide federal assistance for repairs to public infrastructure in Addison, Chittenden, Essex, Franklin, Lamoille, Orange, Orleans and Washington counties.

Condos: You can vote in Vermont's primary starting today

Fri, 01/17/2020 - 2:37pm -- tim

Vermont Business Magazine Secretary of State Jim Condos has announced that the early voting period for the 2020 Presidential Primary Elections begins officially today – Friday, January 17. Vermont voters may request their ballot to vote early any day leading up to the March 3rd Presidential Primary Election day. Ballot requests can be made with local Town and City Clerks by phone, email, walk-in or online at mvp.sec.state.vt.us.

EPA providing more than $230,000 to Vermont for wetlands projects

Fri, 01/17/2020 - 2:26pm -- tim

Vermont Business Magazine The US Environmental Protection Agency (EPA) today announced more than $230,000 in grants to the state of Vermont for state-led programs and projects that will protect, manage and restore wetlands across the state. The Vermont Department of Environmental Conservation (DEC) received $190,944 in grants and the Vermont Fish and Wildlife Department received $45,000. EPA expects to award a second round of these grants in the same amounts later this year. 

Union Bankshares reports record earnings for FY19

Fri, 01/17/2020 - 11:13am -- tim

Vermont Business Magazine Union Bankshares, Inc (NASDAQ - UNB) today announced results for the three and twelve months ended December 31, 2019. Net income was $2.8 million and $10.6 million for the three and twelve months ended December 31, 2019, resulting in earnings per share of $0.61 and $2.38 for the same periods, respectively. The Board of Directors also declared a cash dividend of $0.32 per share for the quarter, an increase of 3.2% from the cash dividend of $0.31 paid in recent prior quarters, payable February 6, 2020 to shareholders of record as of January 27, 2020.

Burlington dry cleaner fined for leaking hazardous air contaminant

Fri, 01/17/2020 - 11:09am -- tim

Vermont Business Magazine The Agency of Natural Resources Department of Environmental Conservation has announced that Two Go Dry Cleaning, Inc, owner of Greers Dry Cleaners in Burlington, was fined $8,000 for failing to maintain a dry-cleaning system that prevents leaks of the toxic solvent perchloroethylene, and for mismanaging contaminated waste materials.

Sugarbush adds additional nine EV charging stations at Mt Ellen

Fri, 01/17/2020 - 11:05am -- tim

Vermont Business Magazine Sugarbush Resort continues to expand its fleet of electric vehicle charging stations, this time adding nine new chargers to Mt Ellen. As with past charging station installation, Sugarbush Resort has partnered with Apex Solar Power and Green Mountain Power to install the chargers. All nine of the universal level 2 chargers are free for public use. Of the nine, eight are located in Lot 3 and the ninth is handicap accessible next to the Mt. Ellen Base Lodge.

Leahy: Trump broke the law, Congress must defend the separation of powers

Fri, 01/17/2020 - 10:33am -- tim

by Senator Patrick Leahy On Thursday morning, hours before senators were sworn in to serve on President Trump’s impeachment trial, an independent, nonpartisan government watchdog confirmed what I have long suspected: When Trump froze congressionally appropriated military aid to Ukraine as part of an effort to compel Ukraine to investigate his political rival, he broke the law. That’s because a central feature of our republic, defined by its separation of powers among the three branches of government, is that Congress, not the president, controls the “power of the purse.”

East Montpelier farm fined for burning construction material and demolition waste

Fri, 01/17/2020 - 9:25am -- tim

Vermont Business Magazine The Agency of Natural Resources Department of Environmental Conservation (DEC) announced today that Fairmont Farms, Inc, and Fairmont Dairy, LLC, were fined $8,400 for burning construction material and demolition waste at the Fairmont Farm in East Montpelier, in violation of Vermont’s air pollution and solid waste management regulations. 

Vail reports ski visits down for holiday period

Fri, 01/17/2020 - 9:22am -- tim

Vermont Business Magazine Vail Resorts, Inc (NYSE: MTN) today reported certain ski season metrics for the comparative periods from the beginning of the ski season through January 5, 2020, and for the prior year period through January 6, 2019. Vail owns Stowe, Mount Snow and Okemo in Vermont. But Vail's disappointing early season results are attributed to poor conditions at Whistler, one of the world's largest ski resorts, north of Vancouver, Canada. Across its vast platform, Vail reported skier visits down nearly 8 percent from the same period last year.

Renowned physicist becomes first President’s Distinguished Scholar at UVM

Fri, 01/17/2020 - 3:18am -- tim

Vermont Business Magazine Julia Phillips, a highly accomplished and renowned physicist who has held top leadership positions at national laboratories and scientific organizations, will serve as the University of Vermont’s first President’s Distinguished Scholar. Phillips currently serves on the executive committee of the National Science Board, which sets National Science Foundation policy, and chairs its science and engineering policy committee. She also is the home secretary of the National Academy of Engineering, and acts as a consultant for Sandia National Laboratories, Los Alamos National Laboratory and Pacific Northwest National Laboratory.

Tax revenue report stays positive

Thu, 01/16/2020 - 5:37pm -- tim

by Timothy McQuiston, Vermont Business Magazine The governor and key legislators received, as expected, good tax revenue news today. Economists Jeff Carr (for the Administration) and Tom Kavet (for the Legislature) issued their consensus projections showing that General Fund revenues should be $18.4 million ahead of the current year expectations and $15.5 million ahead for next year. While Carr (Economic & Policy Resources of Williston) and Kavet (Kavet Rockler & Associates LLC of Williamstown) acknowledged that a recession will come at some point, they noted that, unlike the scare of just one year ago, there is no downturn likely in the near term nor one apparently lurking on the horizon.

People's United reports 4Q2019 net income of $137.5 million

Thu, 01/16/2020 - 4:47pm -- tim

Vermont Business Magazine People's United Financial, Inc (NASDAQ: PBCT) today reported results for the fourth quarter and full year 2019. They also announced that its Board of Directors declared a quarterly cash dividend of $0.3515625 per share on the Company's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock. The dividend is payable on March 15, 2020 to shareholders of record at the close of business on March 1, 2020.

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