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GMP crews restore power to more than 27,300 after heavy snowstorm Thursday

Fri, 10/28/2016 - 4:25pm -- tim

Vermont Business Magazine An army of GMP line crews, tree crews, and contract crews are making repairs following a wet, heavy snowstorm Thursday night that brought down trees and power lines mostly across southern Vermont and central parts of the state. Crews have restored power to more than 27,300 already but approximately 3,000 remain without power as we head into the weekend. Crews will be working around the clock to complete repairs, which could take in the hardest hit areas until Saturday evening.

Vermont mayors coalition endorses TJ Donovan for attorney general

Fri, 10/28/2016 - 3:28pm -- tim

Vermont Business Magazine Today, Vermont’s eight city mayors who make up the Vermont Mayors Coalition announced they have endorsed TJ Donovan in his bid to become Vermont’s next Attorney General. The Coalition and Donovan share many priorities, including investing resources in crime-prevention and public safety measures, increasing drug and mental health treatment programs, protecting the state’s waterways, and ensuring policing protocols employ the best practices in coping with the realities of modern public safety challenges.

St Albans Cooperative Creamery receives $250K USDA grant

Fri, 10/28/2016 - 3:02pm -- tim

Vermont Business Magazine US Department of Agriculture (USDA) announced today that the St Albans Cooperative Creamery will receive a $250,000 federal grant that will expand the Cooperative’s powdered milk market. The grant caps off USDA’s celebration of National Cooperative Month, an annual recognition of the important role played by cooperatives in bolstering the rural economy. The St Albans Cooperative Creamery will use the $250,000 grant to process and package one ton powdered milk totes.

Ledyard Financial Group declares quarterly dividend

Fri, 10/28/2016 - 2:51pm -- tim

Vermont Business Magazine Ledyard Financial Group (Ticker Symbol: LFGP) announced today a regular quarterly dividend of $0.48 payable December 2, 2016 to shareholders of record as of November 14, 2016. Ledyard Financial Group, Inc, headquartered in Hanover, NH, is the holding company for Ledyard National Bank. Ledyard National Bank, founded in 1991, is a full service community bank offering a broad range of banking, investment, tax and wealth management services in the Dartmouth-Lake Sunapee Region.

Addison Press, Homeward Bound: Addison County’s Humane Society and Bill Cunningham are 2016 Chamber Award recipients

Fri, 10/28/2016 - 1:49pm -- Denise Sortor

Vermont Business Magazine The Addison County Chamber of Commerce recognized a local business, non-profit organization, and individual with awards during its annual meeting held on October 20th at Middlebury College’s Kirk Alumni Center, Middlebury, Vt. Three awards were presented in front of a crowd of 60 plus attendees which included Chamber members and local business people.

COTS honors volunteers, community partners at Annual Meeting & Volunteer Appreciation Breakfast

Fri, 10/28/2016 - 1:30pm -- Denise Sortor

Vermont Business Magazine The Committee on Temporary Shelter (COTS) hosted its Annual Meeting and Volunteer Appreciation Breakfast on Friday, Oct 21, at the First Congregational Church of Burlington. The event is an opportunity to honor the extraordinary contributions by volunteers, community partners and local businesses that support COTS work to end homelessness. The recipients were chosen for their outstanding service and commitment to assist and advocate for our neighbors struggling with homelessness or those who are marginally housed.

Brazilian firm to buy Northern Power Systems utility-scale wind business

Fri, 10/28/2016 - 10:50am -- tim

Vermont Business Magazine Northern Power Systems Corp. (TSX: NPS), a next generation renewable energy technology company based in Barre, announced that WEG SA (Bovespa: WEGE3 / OTC: WEGZY) and NPS have executed a definitive agreement for WEG to acquire Northern Power System's Utility Wind assets. Northern Power is best known for its smaller (100 KW), distributed wind power facilities located in remote areas. Northern Power was required to restate its 2015 annual report and financials for the first two quarters of 2016 because of how foreign sales were rectified. The total employment and manufacturing impact in Vermont was not fully known at press time.

Merchants reports Q3 2016 financial results ahead of acquisition

Fri, 10/28/2016 - 10:13am -- tim

Vermont Business Magazine Merchants Bancshares, Inc (NASDAQ: MBVT), which revealed Tuesday that it will be acquired by Syracuse-based Community Bank System, Inc, (NYSE: CBU) next year, has announced net income of $3.9 million and $0.57 per diluted share for the third quarter of 2016 compared to net income of $4.4 million or $0.63 per diluted share in the second quarter of 2016 and $3.9 million in net income or $0.61 per diluted share in the third quarter of 2015.

Vermont Health Connect rates stable relative to national average

Fri, 10/28/2016 - 12:00am -- katie

Vermont Business Magazine -  Despite news that benchmark premiums on are increasing by an average of 25% next year, premiums for Vermonters shopping on Vermont Health Connect will remain much more stable. A new tool launched today will allow Vermonters to compare all their health care options for next year ahead of open enrollment which begins November 1.

Report finds generic drugs save Vermont $377 million with more competition to help lower costs

Thu, 10/27/2016 - 4:15pm -- katie

Vermont Business Magazine – Annual savings from generic prescription drugs totaled $377 million for Vermont, according to the new 2016 Generic Drug Savings and Access in the United States report, compiled by the QuintilesIMS Institute on behalf of the Generic Pharmaceutical Association (GPhA).

Leahy comments on the calls by some Senate Republicans for permanent obstruction of judicial nominees

Thu, 10/27/2016 - 3:51pm -- katie

Vermont Business Magazine - “Eight months ago Republican senators attempted to justify their unprecedented obstruction of a Supreme Court nominee by claiming that the American people needed to be heard through the election.  Now that we are on the eve of that democratic moment, some at last are making clear that this justification was simply a political farce.  It should be alarming to anyone who cares about the fair administration of justice, and the integrity of America’s judiciary, that some Republicans are already seeking to undermine the outcome of the upcomin

Milne unveils term limit reform proposals

Thu, 10/27/2016 - 11:25am -- katie

Vermont Business Magazine - U.S. Senate candidate Scott Milne today unveiled a plan to achieve term limits in Congress.

Milne has taken a two-term pledge and his campaign is focused on government reform.  

“The longer a person is in Washington, the cozier they get with lobbyists and special interests, and the further removed from the people and values that sent them there.