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NBT Bancorp reports net income of $82.2 million

Tue, 01/23/2018 - 9:58am -- tim

Vermont Business Magazine Norwich, NY-based NBT Bancorp Inc (NASDAQ: NBTB), whose NBT Bank has branches in Vermont, has reported net income and diluted earnings per share for the year ended December 31, 2017. Net income for the year ended December 31, 2017 was $82.2 million, up from $78.4 million for the prior year. Diluted earnings per share for the year ended December 31, 2017 was $1.87, up from $1.80 for the prior year.

Peter Kunin elected managing partner of Downs Rachlin Martin

Tue, 01/23/2018 - 9:45am -- tim

Vermont Business Magazine Attorney Peter B Kunin has been elected managing partner and chief executive officer of the northern New England law firm Downs Rachlin Martin PLLC. He replaces Paul H Ode, Jr, who served as managing partner for the past nine years. Kunin joined DRM in 1992, and was instrumental in founding the firm’s Intellectual Property Practice Group. He has served as deputy managing partner since 2012. He is a graduate of Williams College and the Cornell University Law School. He is the son of former Vermont governor Madeleine Kunin.

Windsor Smiles program at Mt Ascutney gets $7,734 grant from Northeast Delta Dental

Tue, 01/23/2018 - 3:48am -- tim

Vermont Business Magazine The Windsor Smiles program at Mt Ascutney Hospital and Health Center (MAHHC) has been awarded a $7,734 grant by the Northeast Delta Dental Foundation. Windsor Smiles, a collaboration between MAHHC, the Northeast Delta Dental Foundation, Windsor Elementary School, and Alice Peck Day Hospital, is designed to serve local children who have very limited access to regular dental care.

Burlington activates on-call crew to fix potholes

Mon, 01/22/2018 - 4:47pm -- tim

Vermont Business Magazine Public Works called in a city crew on Sunday, January 21 to repair potholes using approximately two tons of material to improve road conditions throughout the city. Today, crews continued to be very active, including along Plattsburg Avenue, filling in potholes and delaminated segments of road. After tonight’s weather, crews will be addressing road conditions, including along North Avenue.

Leahy, Sanders vote No on three-week spending bill

Mon, 01/22/2018 - 4:42pm -- tim

Vermont Business Magazine Vermont Senators Patrick Leahy and Bernie Sanders issued the following statement after voting against a three-week continuing resolution. Congress appears ready to pass a short-term funding bill and send it to President Trump. It leaves long-term spending plans and an immigration compromise unresolved. Congressman Peter Welch added that he will vote no when the bill comes to the House.

Scott signs bill to legalize marijuana

Mon, 01/22/2018 - 3:50pm -- tim

Vermont Business Magazine Governor Phil Scott has signed H. 511, An act relating to eliminating penalties for possession of limited amounts of marijuana by adults 21 years of age or older, into law. Governor Scott last year vetoed a legalization plan, but was open to a bill that addressed DUI and restricted access to marijuana by children, but putting in stricter consequences. A re-worked bill was finalized last fall and the governor agreed that he would sign it if it was signed off by the Legislature this session. Both the House and Senate approved the revised bill earlier this month.

Leonine State House Report: The calm before the storm

Mon, 01/22/2018 - 3:45pm -- tim

Leonine Public Affairs A sense of harmony prevailed in the Statehouse this past week, as evidenced by the passage of the the FY18 budget adjustment bill with only one dissenting vote. However, that harmony probably won’t last for long. Governor Scott is scheduled to outline his proposed FY19 budget in an address to a joint assembly of the House and Senate on Tuesday, January 23. The governor's speech will give legislators and Vermonters a better understanding of his priorities for the 2018 legislative session. It will also be an opportunity for legislative leaders to put forward their vision for Vermont and express where their budgetary priorities differ from the governor's.

State moves forward to make Jay Peak EB-5 documents public

Mon, 01/22/2018 - 3:45pm -- tim

Vermont Business Magazine The Department of Financial Regulation has signed a contract with Percipient, LLC to de-identify the Personally Identifiable Information (PII) located throughout the estimated 1.5 million pages of Jay Peak records relating to allegations of fraud in the EB-5 program. The de-identification is done in connection with the Expedited Disclosure Plan announced last year by Governor Phil Scott to increase transparency by expediting public disclosure of Jay Peak related records.

Sue Minter: Why we 'Plunge' for Special Olympics

Mon, 01/22/2018 - 3:03pm -- tim

by Sue Minter On February 3, I will run through snow and ice with over 1,200 Vermonters to jump into Lake Champlain for the annual Penguin Plunge. This will be my first time taking the Plunge which is the largest annual fundraiser for Special Olympics Vermont--a statewide organization that is part of a global movement dedicated to transforming the lives of people with intellectual disabilities. I will have to summon all my courage to Plunge into the icy water. But I will be warmed knowing that my action will positively impact so many Vermont families.

Vermont less affected by Fed shutdown than you might think

Mon, 01/22/2018 - 12:39pm -- tim

Vermont Business Magazine With the US government closed for business for the 19th time since 1976, the personal-finance website WalletHub today released its report on the States Most & Least Affected by the 2018 Government Shutdown to add some hard data to all the rhetoric. Vermont is relatively low on the list, ranked 41st (New Hampshire, 40th), especially considering that in a separate study the state is ranked one of the highest ranking (5th) in its overall budget dependent on federal finances. WalletHub compared the 50 states and the District of Columbia in terms of six key metrics, ranging from each state’s share of federal jobs and contracts to the percentage of kids covered by CHIP.

People's United declares cash dividend on preferred stock

Mon, 01/22/2018 - 12:11pm -- tim

Vermont Business Magazine People's United Financial, Inc (NASDAQ: PBCT) today 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, 2018 to shareholders of record at the close of business on March 1, 2018.