The Senate has passed H 446, An Act Relating to Renewable Energy and Energy Efficiency. H 446 creates standard offer rates to encourage the rapid development of renewable energy technologies. Rates are based on today s costs and as the technology progresses, rates will be decreased. The Vermont Public Service Board will review and reset the rates every two years.
FairPoint Communications, Inc. (NYSE: FRP) has announced its financial results for the three months ended March 31, 2009. The landline telephone company reported a loss of $8.8 million on $311.6 million in revenues, compared to a pro forma loss of $9.5 million for the same period in 2008 on $349,418 in revenues. The first quarter loss is less than losses stretching back to the last profitable period in quarter two of 2008 of $23,114. The company lost $76,072 in quarter four of 2008, and lost $25,109 in quarter three of 2008.
Legislators, including Rep. Mike Marcotte, Vice Chair of the House Commerce Committee, Department of Labor Commissioner Patricia Moulton Powden, business owners, and leaders of the state s business organizations held a press conference today regarding fiscal challenges facing the Unemployment Insurance (UI) trust fund. They are urging legislative leaders to take action to address the growing shortfall in the trust fund through a balanced approach of gradual increases in the taxable wage base and adjustments in Vermont s unemployment benefits.
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. On an operational basis, Entergy's first quarter 2009 earnings were $252.6 million, or $1.29 per share, compared with $308.7 million, or $1.56 per share, in 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.
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.