Vermont Business Magazine News

Vermont wine makers will now have an expanded ability to sample and sell their own and other manufacturers' products at their vineyards. Governor Douglas yesterday at Shelburne Vineyards signed into law S27, an act relating to tastings and sale of wines, fortified wines and spirits. With the enactment of S27, wineries, vineyards and distilleries in Vermont will be able to host special events, including weddings, where they can sample and sell their products.

Legislative leaders announced today that they had put together a package of tax increases, budget cuts and some of the state's "rainy day" funds to offset a $100 million General Fund budget deficit.

US Reps. Peter Welch (D-Vt.) and Ted Poe (R-Texas) joined Academy Award-winning actor Robert Duvall at Wilderness Battlefield today to speak out against Wal-Mart’s plans to build a super store on the historic Virginia site. If built, the store would stand across the road from the national park commemorating the bloody struggle and within the battlefield’s historic footprint.

Winooski’s downtown has been designated a “Vermont Neighborhood” under a housing bill passed last year, making it eligible for benefits designed to aid in the development of lower-cost housing. The designation of the Vermont Neighborhood, approved by the Vermont Downtown Board last week, will be particularly helpful for a proposed transitional housing project for homeless veterans, according to Commerce and Community Development Secretary Kevin Dorn, who chairs the Downtown Board.

Entergy Corporation (NYSE: ETR) today reported first quarter 2009 as-reported earnings of $235.3 million, or $1.20 per share, compared with $308.7 million, or $1.56 per share, for first quarter 2008.

The US Army Aviation and Missile Command Contracting Center has awarded General Dynamics Armament and Technical Products an order valued at approximately $150 million to produce Hydra-70 rockets, warheads and motors. Deliveries are expected to begin in September 2010. This order was awarded under a five-year contract originally signed in 2005. General Dynamics Armament and Technical Products is a business unit of General Dynamics (NYSE: GD). System engineering and program management will be performed at General Dynamics’ Burlington Technology Center in Vermont.

The state Senate yesterday passed a Vermont Yankee decommissioning bill that is a significantly watered down version of one that passed the House, but which still requires the current owners of the Vernon nuclear power plant to cover the cost of decommissioning the plant, whenever that might be. The House version requires that Entergy fully fund the decommissioning within 10 years if the plant closes in 2012. Entergy is seeking to renew the license for another 20 years.

On May 20 and 21, business leaders from across Vermont, New England and Canada will converge on Northern New England’s largest business-to-business trade show, the Vermont Business & Industry EXPO. The 25th annual exposition of business resources and networking opportunities will take place at the Sheraton Hotel & Conference Center in Burlington. The featured guest will be Van Jones, White House Council on Environmental Quality who will be the keynote speaker during lunch on Thursday May 21. The lunch is sponsored by Comcast Business Class.

The Northwestern Medical Center (NMC) Board of Directors is pleased to announce that Wesley W. Oswald has accepted the position of Interim Chief Executive Officer.  Oswald is temporarily filling the position vacated by long-time NMC CEO Peter Hofstetter, who has accepted the CEO position at Holy Cross Hospital in Taos, New Mexico.

Charlotte, VT—April 30, 2009—Former President and CEO of the Vermont Teddy Bear Company, Elisabeth Robert, announced her acquisition of a majority interest in Terry Precision Cycling, today’s premier women’s cycling company. Terry’s founder Georgena Terry and Vice President of Marketing Paula Dyba will remain as continuing equity partners in the business.

Rep. Peter Welch and the state of Vermont will host a day-long conference this Friday designed to help small businesses learn how to contract with the state and federal government. The “Stimulating Green $$” conference, which will take place from 7:30 a.m through 3:30 p.m. at the Burlington Sheraton, will feature government agencies and contractors looking to contract or subcontract with Vermont’s small businesses.

The cost of long term care in Vermont is rising at a rate outpacing inflation, putting significant financial pressure on those in or near retirement, according to an annual study by Genworth Financial. At the same time, the current economic downturn has led to a decline in home values and investment returns for many residents of Vermont, creating further financial planning challenges for many in the state.

Governor Jim Douglas today announced that 21 Vermont communities will receive a combined $2.75 million for transportation enhancement projects“These grants provide seed money to towns and cities across Vermont so communities can complete important transportation projects they otherwise might not be able to afford,” Douglas said. “The projects not only improve our existing transportation system, but they provide a significant contribution to the state’s economy.”

World Energy Solutions, Inc. (NASDAQ: XWES; TSX: XWE), an operator of online exchanges for energy and green commodities, today announced Burlington Electric Department (BED) has successfully brought to market, and sold, CT Class I Renewable Energy Certificates (RECs) on the World Green Exchange®. BED produces a significant number of CT Class I RECs annually through a wood-fired facility in Burlington, Vermont. The RECs have been sold on behalf of BED and the other joint owners of the facility: Central Vermont Public Service, Green Mountain Power, and VPPSA.

Governor Douglas today called for Vermont National Guard assistance with the implementation of the State of Vermont Strategic National Stockpile Plan.  Specifically, National Guardsmen and women will assist state officials in our effort to inventory and distribute antiviral supplies. While there have been no confirmed cases of Swine Flu in Vermont, state officials are coordinating with our federal partners and are working closely with local leaders to ensure that Vermont is prepared in the event of an outbreak. Source: Governor's office

University of Vermont president Dan Fogel announced Wednesday that Tom Vogelmann has been appointed as the eleventh Dean of the College of Agriculture and Life Sciences (CALS). He has been acting as Interim Dean of CALS since July of 2008.

On Friday the Department of Forests, Parks and Recreation will announce a new partnership between Vermont State Parks and the Boy Scouts’ Green Mountain Council called “Adopt A Park.”

Country Walkers has been named named to Outside magazine’s (www.outsideonline.com) second annual “Best Places to Work” list. Country Walkers was ranked No. 11 out of 30 selected companies. The full list and related story will be published in the May issue of Outside magazine, available on newsstands April 28, 2009.

Merchants Bancshares, Inc. (Nasdaq: MBVT), the parent company of Merchants Bank, today announced net income of $2.91 million or diluted earnings per share of $0.48 for the quarter ended March 31, 2009. This compares with net income of $2.66 million or diluted earnings per share of $0.44 for the first quarter of 2008. Merchants previously announced the declaration of a dividend of 28 cents per share, payable May 14, 2009, to shareholders of record as of April 30, 2009.

Green Mountain Coffee Roasters, Inc., (NASDAQ: GMCR) today announced its fiscal 2009 second quarter results for the thirteen weeks ended March 28, 2009, reporting very strong top and bottom line growth.

Associates in Pediatrics, a Central Vermont Medical Group, cut the ribbon at their spacious new offices at 244 Granger Road in Berlin, on Wednesday April 29th. The new 8200 square foot facility provides space that is more efficient and up-to-date than the practice’s previous offices. Pediatrics staff includes Deborah Jerard, MD, Margaret Lindsay, MD, Emily Urquhart-Scott, MD and Linda Burger, PNP.

Week Ending April 25, 2009. There were 1,501 new regular benefit claims for Unemployment Insurance last week, a decrease of 97 from the week before. Altogether 18,430 new and continuing claims were filed, 561 less than a week ago and 7,397 more than a year earlier. The Department also processed 2,122 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 52 more than a week ago. In addition, there were 1,299 Second Tier claims for benefits processed under the EUC08 program which is an increase of 39 from the week before.

The Vermont Farm Viability Program announced today $40,000 in grant awards to meat processing facilities in Troy, Randolph, Barre and Enosburg. The grants are the first round of a new funding opportunity for “agriculture-related businesses,” established to develop and invest in agricultural infrastructure and to improve the viability of agriculture-related businesses. Two subsequent rounds of grant funding will be announced later this year and in 2010. Eleven processors with combined requests of $183,600 applied for $40,000 of available funding.

The National Ski Areas Association announced on Tuesday that Sugarbush Resort has won the Association’s top honor for guest service. The Best Overall Guest Service Program award is given to the resort with the best guest service program in the country. Resorts are categorized by visitation numbers. The prize is in recognition of Sugarbush’s SugarTube initiative, an interactive video sharing function that it unveiled on sugarbush.com this past season.

Two new start-ups, as well as a UVM technology license agreement, were announced Tuesday at the Center for Emerging Technologies' 4th annual Invention to Venture (I2V) Conference at UVM’s Davis Center. Governor Douglas was joined by Lieutenant Governor Brian Dubie to announce the new Technology License between UVM and Swanton's Leader Evaporator to manufacture and distribute a unique Maple Spout Adapter.  The Maple Spout Adapter was developed by Timothy Perkins, Director of UVM’s Proctor Maple Research Center. 

The New England Culinary Institute’s Board of Directors announced today that it has approved recommendations proposed by the school’s administration to unify campuses to its Montpelier location, while at the same time expand both the scope of NECI’s educational offerings and the options for delivery of those programs to students.

In light of the current threat of swine influenza in Mexico and certain US states, the Vermont Chamber Hospitality Council is urging Vermont’s tourism industry to remain alert to the symptoms of the flu, while realizing that health officials are taking all necessary steps to help treat those individuals and contain the disease before it spreads.  Of the 64 cases identified nationwide, there have been no deaths reported from this influenza strain in Vermont or the US.

US Rep. Peter Welch announced Tuesday he will seek an amendment to the Credit Cardholder’s Bill of Rights that would cap credit card interest rates at 18 percent. Welch announced the amendment at a Capitol Hill press conference Tuesday morning alongside two cosponsors, Rep. Maurice Hinchey (D-NY) and Rep. John Tierney (D-MA). The Credit Cardholder’s Bill of Rights is expected to be voted on in the House of Representatives on Thursday.

University of Vermont College of Medicine Dean Frederick C. Morin, M.D., has announced that following a national search, William B. Jeffries, Ph.D., has accepted the position of Senior Associate Dean for Education. Dr. Jeffries will assume this role on August 1, 2009, and will relocate to Vermont from Omaha, Nebraska, where he is the Associate Dean for Medical Education and Director of Academic Computing at Creighton University School of Medicine.

The Vermont Economic Development Authority (VEDA) has approved $8 million in financing to support economic development projects totaling $20 million throughout the state.