CVPS plans purchase of VEC’s southern Vermont territory

first_imgscostel Timothy McQuiston 2 6 2006-07-28T13:25:00Z 2006-07-28T15:57:00Z 2006-07-28T15:57:00Z 1 574 3275 CVPS 27 7 3842 10.2625 1474219382 news releaseSCostel@cvps.com(link sends e-mail) Costello, Stephen 471604707 Print Clean Clean 0 pt 0 pt 0 0 0 pt 0 pt MicrosoftInternetExplorer4st1\:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”;}July 28, 2006 The purchaseis the second announced by CVPS in recent months.  CVPS announced the purchase of RochesterElectric Light and Power, a privately held, 900-customer company,in April.  That purchase is awaitingregulatory approval, which is expected this summer. Customersaffected by the sale are in Halifax and parts of Andover, Dover, Newfane, Townshend, Wardsboro, Jamaica, Marlboro, Guilford, Vernon, Wardsboro, Wilmington, Windham, Whitingham and Readsboro. When thesale is completed, the former VEC customers will be covered by CVPSs 17 SERVE Standards, which measure everything fromreliability to customer service, and are reported to state regulators.  SERVE stands for Serving Everyone withReliability, Value and Excellence.  Thenew customers will also be eligible for all CVPS programs, including evenmonthly billing, Electripay and CVPS Cow Power”. Thisagreement consolidates service territories and provides CVPS with importantgrowth, President Bob Young said.  Itwill reduce local rates, and strengthens CVPS by providing new revenue and awider base to allocate fixed costs. CVPS plans purchaseof VECs southern Vermont territoryCentral Vermont PublicService will purchase the southern Vermont franchise territory of Vermont Electric Cooperative under an agreement designed to rationalizeservice territories and lower local electric rates. This areais virtually centered between CVPSs Springfield, Brattleboro and Sunderlandoffices, Hallquist said.  It makes more sense for CVPS than VEC toserve it.center_img Under theagreement, which must be approved by the Vermont Public Service Board, CVPSwill acquire VECs southern Vermont assets and the rights to serve 2,770customers, who will on average save about 8.1 percent under CVPS ownership,even after a pending 6.15 percent rate case is complete. CVPS, founded in 1929, is Vermonts largest electric utility, serving about151,000 customers.  More than 100companies have merged into CVPS since its founding. Four of fiveVEC employees in the region are expected to be hired by CVPS.  CVPS plans to maintain the current VECservice office in Wilmington. VEC ChiefExecutive Officer David Hallquist said the sale madesense for the co-op, as it would provide significant cash, while divesting aservice area far removed from most of VECsterritory, which is primarily in northern Vermont.  CVPSwill pay approximately $4 million for VECs southern Vermont assets and territory. Forward-Looking StatementsStatements contained in this report that are not historical fact areforward-looking statements intended to qualify for the safe-harbors from theliability established by the Private Securities Litigation Reform Act of1995.  Statements made that are not historical facts are forward-lookingand, accordingly, involve estimates, assumptions, risks and uncertainties thatcould cause actual results or outcomes to differ materially from thoseexpressed in the forward-looking statements.  Actual results will depend,among other things, upon the actions of regulators, performance of the VermontYankee nuclear power plant, effects of and changes in weather and economicconditions, volatility in wholesale electric markets and our ability tomaintain our current credit ratings.  These and other risk factors aredetailed in CV’s Securities and Exchange Commission filings.  CV cannot predictthe outcome of any of these matters; accordingly, there can be no assurancethat such indicated results will be realized. Readers are cautioned not toplace undue reliance on these forward-looking statements that speak only as ofthe date of this press release.  CV does not undertake any obligation topublicly release any revision to these forward-looking statements to reflectevents or circumstances after the date of this press release.last_img read more

North-Link Construction to Begin

first_imgNorthern Enterprises is pleased to announce the commencement of the North-Link network on Friday, May 4th, 1:45 pm at the Northeastern Vermont Regional Hospital. Senator Patrick Leahy and other dignitaries will be on hand to formally launch construction of this fiber optic high-speed network. The fiber optic system will serve as a backbone for broadband access throughout the Northeast Kingdom where major areas have been sidelined from high speed internet access. North-Link is a $ 10 million fiber optic network designed by Northern Enterprises, in cooperation with the Economic Development Council of Northern Vermont, that encompasses eight Vermont Counties, three States and two countries. The network is a public-private partnership with financial backing coming from the federal government, local businesses and communities.last_img read more

CO2 allowance auction set for September 25

first_imgGovernor says first RGGI auction date is set for Sept. 25CO2 allowance auctions will help drive innovation, produce cleaner energyMONTPELIER – Governor Jim Douglas has announced that Vermont and the Regional Greenhouse Gas Initiative have released preliminary guidelines for the nation’s first-ever carbon credit auction on Sept. 25.The guidelines outline requirements and preparations bidders must follow to be ready to purchase their share of nearly 12.5 million carbon emission allowances at the first auction.”The stage is set for Vermont and nine other states to take unprecedented action and lead the nation on a path of economic and environmental security through reduced use of fossil fuels like oil,” Douglas said. “This is an important milestone as Vermonters struggle under the burden of the federal government’s failure to lead on fundamental energy and environmental issues.”The Sept. 25 auction is expected to include allowances from Vermont, Connecticut, Maine, Massachusetts, Maryland and Rhode Island. Other RGGI states will offer allowances for sale in future auctions as they complete their necessary rule-making procedures.RGGI is the first program in the country to cap and then reduce CO2 emissions from power plants. Participating states have agreed to stabilize CO2 emissions from 2009 to 2014, and then gradually reduce emissions beginning in 2015. Emissions from the power sector for RGGI states totals about 7 percent of the U.S. power sector emissions, according to the U.S. Energy Information Agency.The market-based mandatory program will cost-effectively reduce the pollution that is causing global warming while investing in efficient technology, Douglas said. “The result for Vermonters is the potential for new green jobs and cleaner energy.”The materials released today, online at www.rggi.org(link is external), provide a preview of auction applications and procedures for bidders participating in the first of two early auctions to be held this year.###last_img read more

City Market, Onion River Co-op Announce New Board of Directors

first_imgDowntown Burlington’s cooperative grocery store, announces three new members to its Board of Directors: Ann Ramsay, Susan Munkres, and Wayne Warnken. The new Board of Directors will begin their three-year terms on January 1.Ramsay, a nurse and acupuncturist, has been a Co-op member for the past three years and was also a member many years ago when the Co-op was located on Archibald Street. Ramsay is also an adjunct faculty member in the Department of Nursing at the University of Vermont where she teaches several courses in Chinese Medicine.Munkres has been involved in organic gardening, CSA’s, farmers’ markets, and co-ops for over 20 years, but most recently lived in the deep South where alternatives to the conventional food system were few and far between. She also teaches about food systems to high school and college students.Warnken, a family physician at the Community Health Center, has lived in Burlington for the past four years. As a physician at the Health Center, he says he sees the impact that nutrition has on our community every day and is looking forward to using those experiences to help continue City Market’s mission.Three Board of Directors, Garry Schaedel, David Booth and Kiernan Flynn, are stepping down on December 31. Both Schaedel and Booth served two full terms on the Board and both were President at different times. “They helped navigate the Co-op through rocky waters early in their terms,” said General Manager Clem Nilan. “It is a fitting tribute that they leave Onion River Co-op in a much better place than they found it.” Flynn served the Board for one year.About City Market, Onion River Co-opThe Onion River Co-op is a consumer cooperative, with over 3,200 members, selling wholesome food and other products while building a vibrant, empowered community and a healthier world, all in a sustainable manner. Recently awarded the 2008 Howard K. Bowers Fund Cooperative Excellence Award, City Market provides a large selection of local, natural and conventional foods, and thousands of Vermont-made products. Visit City Market, Onion River Co-op conveniently located in downtown Burlington, online at www.CityMarket.coop(link is external) or call 802-861-9700.last_img read more

Welch introduces bill to protect dairy farmers by closing trade loophole

first_imgCongressman Peter Welch on Tuesday introduced legislation to protect dairy farmers by closing a trade loophole that allows for the unlimited importation of a form of dried milk product. Welch s bill, the Milk Import Tariff Equity Act, will update existing trade regulations to include milk protein concentrate (MPC) and treat it like all other imported dairy products. In the past decade, MPC imports have more than doubled, undermining the market for domestic powdered milk and driving down the price Vermont s dairy farmers are paid for their milk. As international dairy producers have flooded the American market with milk protein concentrate, Vermont s dairy farmers have paid the price. By circumventing trade agreements, these producers have contributed to the plummeting price of milk and caused many Vermont farmers to go out of business, Welch said. This legislation will simply level the playing field and ensure that all dairy producers play by the same rules.Milk protein concentrate, similar to non-fat dried milk, is used in a variety of processed food products. In the past ten years, MPC imports have increased 58 percent. A 2004 International Trade Commission report found that, imported milk protein products may have displaced approximately 318 million pounds of U.S. produced milk protein [equivalent to 883 million pounds of non-fat dried milk] between 1998 and 2002.Because the technology used to produce MPCs was relatively new at the time, regulations approved during the 1995 Uruguay Round of multilateral trade negotiations neglected to include MPCs. In the years since, foreign producers have taken advantage of this oversight and increased exports at a rate higher than is allowed for other dairy products.The Milk Import Tariff Equity Act would simply close this loophole and ensure that milk protein concentrates are regulated at the same level as other dairy products.Companion legislation was introduced in the Senate earlier this year by Sen. Charles Schumer (D-NY).Source: Welch’s office. 9.29.2009last_img read more

Vermont Travel Industry Conference April 7 & 8 at the Stoweflake

first_imgThe 27th Annual Vermont Travel Industry Conference will be held on April 7 & 8, 2010 at the Stoweflake Resort in Stowe, Vermont. The event will feature compelling keynote speakers, pertinent workshops on industry topics and trends, and a trade show featuring over 30 exhibitors who sell products or services to the tourism industry.On Wednesday April 7th at 9:00 am, keynote speaker James Chung of Reach Advisors will educate the tourism industry on the Four Macro Trends and the Implications on Travel. Chung will discuss the major trends that will reshape the consumer market as it relates to the tourism industry including: generational shifts, gender differences, health and wellness behaviors, outdoor recreation trends, and household purchasing power.Thursday April 8th at 9:00 am, Steve Richer of the National Tour Association will enlighten attendees on the future of the tourism industry through his keynote presentation the Tourism Industry Crystal Ball: Where We Are, Where We Are Headed. Richer will pull from his experience working on the legislation that will become the Travel Promotion Act to discuss current border and public land issues, and provide attendees with a glimpse into the future and what we can do.The Vermont Travel Industry Conference will feature workshops from five educational, industry related tracks: Management, Miscellaneous Marketing, Media Relations, Social Media & Marketing, and Web Marketing. Some of the hot topics this year will include How to Effectively Publicize Your Business Through New Media Tools with Nicole Ravlin of PMG Public Relations, Sustainability and the Triple Bottom Line: People, Planet and Profit with Hans van Wees of Van-Wees, Inc., and How to Recognize, Evaluate, and Seize Money-Making Marketing Opportunities with Chris Diaz of Redpoint Marketing.If you are part of a tourism-related business or have an interest in the Vermont travel industry, this conference is for you! Registration is now open. For more information on participating in the event and to register, please visit the Vermont Travel Industry Conference website at www.vtic.org(link is external) and receive instant updates by becoming a fan on the Vermont Travel Industry Conference Facebook page. Source: VTIC. 2.16.2010last_img read more

Vermont still better than most, but 7 million distressed mortgages drag on US

first_imgThe Mortgage Monitor report released by Lender Processing Services, Inc. (NYSE: LPS), a leading provider of mortgage performance data and analytics, indicates that signs of stabilization in the nation’s home loan delinquency and foreclosure rates remain largely neutralized by the more than 7 million loans in distress.According to the Mortgage Monitor report, the number of loans 90 or more days delinquent (including pre-sale foreclosure) declined 112,184 from 4,186,627 to 4,074,443 between March and April, with the total number of non-current U.S. loans plus REO (Real Estate Owned by banks, etc) just over 7.3 million (extrapolated to represent total mortgage market).Conversely, deterioration ratios remain high, with two loans rolling to a “worse” status for every one loan that has improved and the overall volume of loans moving from delinquent to current status declined to a three-month low supported primarily by “artificial cures” associated with HAMP modifications. In addition, newly delinquent loans (current at year-end and 60 or more days delinquent as of April) have declined from the 2009 levels but still remain extremely high from a historical perspective, particularly within prime product.Other key results from LPS’ latest Mortgage Monitor report include:Total U.S. loan delinquency rate: 8.99 percentTotal U.S. foreclosure inventory rate: 3.18 percentTotal U.S. non-current* loan rate: 12.17 percentStates with most non-current* loans:Florida, Nevada, Mississippi, Arizona, Georgia, California, Illinois, New Jersey, Michigan and Rhode IslandStates with the fewest non-current* loans:North Dakota, South Dakota, Wyoming, Alaska, Montana, Nebraska, Vermont, Colorado, Iowa and Minnesota*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.Note: Totals based on LPS Applied Analytics’ loan-level database of mortgage assets.LPS manages the nation’s leading repository of loan-level residential mortgage data and performance information from nearly 40 million loans across the spectrum of credit products. The company’s research experts carefully analyze this data to produce dozens of charts and graphs that reflect trend and point-in-time observations for LPS’ monthly Mortgage Monitor Report.To review the full report, listen to a presentation of the report or access an executive summary, visit http://www.lpsvcs.com/NEWSROOM/INDUSTRYDATA/Pages/default.aspx(link is external).About Lender Processing ServicesLender Processing Services, Inc. (LPS) is a leading provider of integrated technology and services to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop), portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by dollar volume are serviced using LPS’ Mortgage Servicing Package (MSP). LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, visit www.lpsvcs.com(link is external).SOURCE Lender Processing Services, Inc. JACKSONVILLE, Fla., June 1, 2010 /PRNewswire-FirstCall/last_img read more

Dealer.com appoints Rick Gibbs as president

first_imgDealer.com (www.dealer.com(link is external)) today named Rick Gibbs as its new president.  Gibbs co-founded the company in 1998 and has since held the position of CTO, shaping and directing Dealer.com’s technological vision, while spearheading its emergence as the global leader in online marketing solutions for the automotive industry. As President, Gibbs will help guide the company as it significantly increases employee headcount and accelerates product development and delivery volume over the years ahead.”Rick’s appointment sends a strong signal to the industry that we are first and foremost a technology company that empowers auto dealers, dealer groups and OEMs. We see a growing trend of powerful Software as a Service business models being driven by technologists,” commented Mark Bonfigli, Dealer.com’s CEO, who previously held the title of President as well.”Rick’s expertise and dedication have been critical in enabling us to nearly quadruple our revenues over the last three years among the most challenging years ever in the auto industry,” Bonfigli continued. “Combining creativity with strategic foresight, he has consistently led Dealer.com’s research and development teams to deliver cutting-edge products that are responsive to dealers’ needs and outperform anything on the market. He has continued to refine product management and added business analysis groups to benchmark best practices that keep our clients two to four years ahead of the competition. Assuming the role of president and CTO, Rick will now help guide us to entirely new levels of technology development, growth and expansion.”Commenting on his new position, Gibbs said, “I’m honored and thrilled to take on the role of president and excited about the opportunities ahead for Dealer.com. We have an industry-leading pipeline of products, a very strong and financially sound company, and are well-positioned for continued growth.”Prior to co-founding Dealer.com, Gibbs consulted for a number of Fortune 500 companies, designing and building next-generation web applications and interactive training systems. Gibbs is a graduate of Clarkson University, with a degree in computer engineering.About Dealer.com (www.dealer.com(link is external))Dealer.com is the global leader in online marketing solutions for the automotive industry, providing award winning e-marketing solutions to OEMs, auto dealers and media companies.  The company’s innovative websites and integrated online tools significantly lower the cost of customer acquisition, enhancing dealers’ efficiency and profitability. More dealerships use the Dealer.com platform than any other platform in the world.  Recent national and international accolades include: The Ernst & Young Entrepreneur of the Year, top ranking in The Net Promoter® Score Survey of customer satisfaction, Deloitte’s Technology Fast 500 and the Web Marketing Association’s Automobile Standard of Excellence. In addition, Dealer.com was the 2009 Top Rated Website Provider on DrivingSales.com, and won the 2010 Dealers’ Choice Diamond Award for Best Website Solution and the 2009 Most Comprehensive Search Marketing Platform Award from the Automotive Search Marketing Association. For more information visit:http://www.dealer.com/promo/look-inside.htm(link is external).Source: Dealer.comlast_img read more

FEMA approves more than $1 million for flood victims

first_imgMore than $1 million in federal disaster aid has been approved for eligible applicants in Vermont affected by the spring storms and flooding that occurred from April 23 to May 9.Since President Obama issued a major disaster declaration on June 15th for these storms in the counties of Addison, Chittenden, Essex, Franklin, Grand Isle, Lamoille, and Orleans, over 800 people have registered with the Federal Emergency Management Agency (FEMA).The grants include $1,050,536 in housing assistance, such as rental and home repair assistance, and $25,820 in other needs assistance, such as replacement of personal property.Caledonia and Washington counties recently received federal declarations on Friday, July 8, for storms and flooding that occurred May 26th to 27th.FEMA assistance to individuals and families may include grants for temporary housing and home repairs, low-interest loans to cover uninsured property losses and other programs to help individuals and families recover. Those who have experienced damage or loss from the flooding in the designated counties can register for disaster assistance at 800-621-FEMA (3362). Multilingual registration assistance is also available. Those with a speech disability or hearing loss who use a TTY can call 800-462-7585 directly, or 800-621-3362, if using 711 or Video Relay Service. Registration can also be done online anytime at www.DisasterAssistance.gov(link is external) or through web-enabled mobile phone devices at m.fema.gov.The following is a recap of activities and assistance provided by FEMA and its partners:Community Relations: To help identify and assist those who have flooding damage, FEMA Community Relations field specialists have visited more than 2,500 homes, businesses, local agencies and community-based organizations, and houses of worship, and reached out to local officials, the visually impaired, deaf and those with limited English proficiency.Disaster Recovery Centers: Currently, four DRCs are open throughout the state, where those with questions about assistance after the floods can visit with a federal recovery specialist face-to-face. Those looking for the nearest disaster recovery center can check online at https://asd.fema.gov/inter/locator/drcLocator.jsp(link is external) or call the FEMA Helpline at 800-621-FEMA (3362). Low-Interest Loans: The U.S. Small Business Administration offers low-interest, long-term disaster loans to homeowners and renters as well as businesses. Find more information at www.sba.gov(link is external). Job Loss Due To Disaster: You may be eligible for disaster unemployment assistance if the storms and flooding affected your ability to work. For more information call 877-214-3330 or visit www.labor.vermont.gov(link is external).Legal Services: If you need legal assistance with home repair contracts, insurance claims and other disaster-related issues, you can call 800-889-2047 for free legal advice. The service is a partnership between Vermont Volunteer Lawyers Project, the Vermont Bar Association Young Lawyers Division, the American Bar Association Young Lawyers Division and FEMA.FEMA’s mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards.Disaster recovery assistance is available without regard to race, color, religion, nationality, sex, age, disability, English proficiency or economic status.  If you or someone you know has been discriminated against, call FEMA toll-free at 800-621-FEMA (3362). For TTY call 800-462-7585.  If you have a speech disability or hearing loss and use a TTY, call 1-800-462-7585 directly; if you use 711 or Video Relay Service (VRS), call  1-800-621-3362 FEMA’s temporary housing assistance and grants for public transportation expenses, medical and dental expenses, and funeral and burial expenses do not require individuals to apply for an SBA loan. However, applicants who receive SBA loan applications must submit them to SBA loan officers to be eligible for assistance that covers personal property, vehicle repair or replacement, and moving and storage expenses. SBA disaster loan information and application forms may be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m. ET or by sending an e-mail to disastercustomerservice@sba.gov(link sends e-mail). Applications can also be downloaded from www.sba.gov(link is external) or completed on-line at https://disasterloan.sba.gov/ela/(link is external).last_img read more

Woodchuck Hard Cider changes corporate name

first_imgVermont Hard Cider Company, LLC,Bret Williams, President and CEO of Green Mountain Beverage, recently announced that the hard cider company is changing its name to Vermont Hard Cider Company, LLC effective August 1, 2011. The name change comes at a time when the hard cider category is experiencing significant growth in the United States. The company produces the nation’s number one cider ‘ Woodchuck Hard Cider, which is available in all 50 states and is currently celebrating its 20th Anniversary in 2011! In June 2003 when Williams put together the deal to buy the company, the legal name became ‘Beverage Acquisition Group, LLC’ with Green Mountain Beverage as the d/b/a. At the time, it was uncertain if the company would survive, let alone be able to sell hard cider exclusively. Over the years, the Woodchuck Brand has grown three-fold and has enabled the company to remain solely focused on the hard cider category. ‘The name ‘Vermont Hard Cider Company’ better reflects who we are and what we do,’ Williams said. ‘Vermont, as well as our Company, stands for good people doing good things in a good way.’ Vermont Hard Cider Company will continue to operate in its current facility on Pond Lane, while actively pursuing expansion options in the Middlebury area.  About Vermont Hard Cider Company, LLCVermont Hard Cider Company, LLC, located in Middlebury, Vermont, is the leading hard cider producer in the United States, which includes the nation’s number one cider ‘ Woodchuck® Hard Cider. Having won 16 IMPACT Hot Brand Awards, Vermont Hard Cider Company, LLC is recognized for its superior cider brands. Vermont Hard Cider Company, LLC handcrafts and manages all levels of quality control in a state-of-the-art cidery in Middlebury, VT by employing a team of cider makers with over 30 years of combined experience directly in cider making and a team devoted exclusively to producing, marketing, and selling hard cider. More information is available at www.woodchuck.com(link is external).last_img read more