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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. Despite a well-received product, its business has struggled for many years. Its nascent company started in Warren, was bought out by a Connecticut firm and moved, only to be spun off again after a bankruptcy in 2008 and returned to Vermont to operate out of the former Bombardier plant in Barre.

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.

Leahy: It's time for a national standard to protect consumer information

Thu, 10/27/2016 - 11:23am -- katie

Vermont Business MagazineBy Patrick Leahy More than 500 million people recently learned that the highly sensitive information they provided Yahoo was hacked and stolen.  The stolen data included usernames, masked passwords, email addresses, telephone numbers, dates of birth, and security questions and answers.  This treasure trove of information has the potential to allow criminals to hack into other accounts of these same consumers, including online bank accounts or social media profiles, by decrypting the passwords or using their security ques

Burlington Electric encourages community to 'Share the Warmth'

Thu, 10/27/2016 - 9:22am -- tim

Vermont Business Magazine The Burlington Electric Department today is encouraging the Burlington community to contribute to the WARMTH Support Program of the Champlain Valley Office of Economic Opportunity (CVOEO), leading by example with its own $20,000 gift that will help Burlingtonians and Vermonters with heating emergencies this winter.  During last year’s 2015-16 heating season, WARMTH served 394 Burlington households with 648 assists, or direct payments to BED to keep the heat on, totaling more than $53,000.

Chamber Of Commerce launches Member 2 Member Fuel Discount Program

Thu, 10/27/2016 - 6:34am -- Denise Sortor

Vermont Business Magazine The Franklin County Regional Chamber of Commerce is pleased to announce the launch of their Member 2 Member Benefit Program with a special discounted rate on fuel offered through three local fuel companies. This program is open to Chamber member businesses and their employees. Member 2 Member benefit programs bring value to chamber membership by offering appealing discounted programs or goods from members to members.

USDA helps Vermont businesses make energy investments

Thu, 10/27/2016 - 12:00am -- katie

Vermont Business Magazine - The U.S. Department of Agriculture (USDA) provided capital support to 17 Vermont businesses transitioning to renewable or energy efficient technologies to cut costs and reduce energy consumption this year. Vermont farms and small businesses used more than $3 million in grants and loan guarantees through USDA Rural Development’s Rural Energy for America Program (REAP).

Vermont All-Payer ACO Model joins growing state-based efforts to deliver better health care and reduce costs

Wed, 10/26/2016 - 3:43pm -- katie

Vermont Business Magazine - The Centers for Medicare & Medicaid Services (CMS) and the state of Vermont jointly announced today the Vermont All-Payer Accountable Care Organization (ACO) Model, a new initiative aimed at accelerating delivery system reform for Vermont residents. The Vermont All-Payer ACO Model aims to transform health care for the entire state and its population.

Gov. Shumlin appoints Trautz as Washington County Assistant Judge

Wed, 10/26/2016 - 3:30pm -- katie

Vermont Business Magazine - Gov. Peter Shumlin today announced the appointment of Otto Trautz to replace Washington County Assistant Judge Otto Kinzel.

“Otto’s longstanding experience with state government, his budget expertise, and his thoughtful temperament make him a strong addition to Vermont’s assistant judges,” Gov. Shumlin said.