Archive - May 2009

The VBM/e-forecasting.com VT Leading Economic Indicator, Vermont's early bird of economic activity, edged down in February 2009 to a reading of 109.4 where 2000 is set equal to 100. The private forecasting service said the composite Vermont index of state leading indicators, which is produced jointly with Vermont Business Magazine, went down 0.7 percent in February after going down 0.3 percent in January. Two of the nine components that make up Vermont's Leading Indicator had a positive contribution in February: Interest Rate Spread and Technology Index (National).

Applications being accepted for agricultural stimulus financing Farmers may apply immediately for the new agricultural stimulus financing available through VEDA’s farm lending program, the Vermont Agricultural Credit Corporation (VACC). VACC has up to $6 million in low-interest financing available, made possible by $1 million in federal economic stimulus funds from Vermont’s share of the American Recovery and Reinvestment Act. The new loan funding is available to help farmers with this season’s operational costs – feed, seed, fertilizer or other needs – or, to refinance prior years’ operating costs. The stimulus financing has a variable rate, now at 2%. Detailed information about the program is available on VEDA’s website at www.veda.org. Applications may either be filled out on-line and emailed to VEDA at applications@veda.org; or downloaded from VEDA’s website, filled out in print form, and mailed to VACC Farm Operating Loan Program, Vermont Agricultural Credit Corporation, 58 East State Street, Montpelier, Vermont 05602.

Northern Power names new Chief Financial Officer Northern Power Systems, Inc, a next-generation wind energy company, announced that James C Shay has been appointed chief financial officer. The appointment is part of Northern's rapid transformation into a major commercial force in the wind power industry. Shay brings 25 years of senior management experience from General Electric, BHA Group Holdings, and Frontier Investment Banc Corporation. In his most recent position, Shay was senior vice president and chief financial officer at BHA Group Holdings, where he doubled revenues through organic growth and acquisitions and led the successful sales of the company to General Electric. He also worked at KPMG Peat Marwick in various roles. Northern Power Systems has over 30 years of experience in developing advanced, innovative wind turbines.

In the distant future archeologists may place the year 2009 in the wire age. A time, when almost unnoticed, mankind lived surrounded by a maze of copper conductors. Dating the period from 1866, the year the Great Eastern steamship was used to place the first telegraph cable between America and Europe. The transmission line was primitive by today's standards; four copper wires insulated with Guta Percha, a latex from the sap of trees in southeast Asia.

Tim Allen, 52, is the owner of Allen Brothers Garden Center and Allen Brothers Oil in Westminster. The company was started by Tim’s father John Allen and three of his brothers, and incorporated in 1956, the year Tim was born.

MicroStrain announces the release of attitude heading reference system

$58 million shortfall called crisis by legislative leaders In response to a $58 million drop in state revenue forecasts, Speaker of the House Shap Smith met with Governor Douglas, Lt. Governor Dubie, and Senate President Pro Tem Peter Shumlin on April 27 to craft a joint solution to address budgetary challenges. Economists Jeff Carr, representing the administration, and Tom Kavet, for the Legislature, estimated that the state could fall $250 million into deficit in the next few years.

Downtown Brattleboro's aura of hip-ness represents one of Windham County's chief economic assets, says the head of the local Chamber of Commerce. Main Street's bookshops, restaurants, coffee houses, CD stores, galleries and clothing boutiques all appear to be prospering, along with more mass-market retailers in other parts of town, even as the recession clouds some sectors of the county's economy.

The Brattleboro Retreat is introducing new psychiatric treatment programs with the aim of becoming nationally known for serving specific groups within American society. The expansion could eventually result in up to 50 jobs being added to the Retreat’s current 500-person workforce, says CEO and President Robert Simpson.

Patrick J Leahy is the stuff of legend and he isn't finished yet.