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Governor Douglas, Treasurer Spaulding Announce Triple-A Bond Rating

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first_imgFor Immediate Release:Monday, February 05, 2007 Jason GibbsGovernor’sCommunications Director109 State Street ¨ The Pavilion ¨ Montpelier,VT 05609-0101 ¨ www.vermont.gov/governor(link is external)Telephone: 802.828.3333 ¨ Fax: 802.828.3339 ¨ TDD: 802.828.3345 Governor Douglas said Vermont,which has not had a triple-A rating from Moody’s since 1972, is now oneof only 11 states with a triple-A rating by one or more of the major creditrating agencies.  ### GovernorDouglas, Treasurer Spaulding Announce Triple-A Bond Rating Contacts:  Treasurer Jeb Spaulding, (802)828–1452Jason Gibbs, Office of the Governor, (802) 828-3333 Moody’s draft statement announcing the upgrade credited Vermont’s historyof financial management, our manageable debt profile – including ongoingefforts to properly fund our pension systems – and a stable, diversifyingeconomy. According to State Treasurer Spaulding, “The triple-A rating canbe expected to reduce the State’s borrowing costs and, over the years,save taxpayers millions of dollars in interest costs that can be better spenton pressing needs or returned to taxpayers.  In addition, this will enhance oureconomic development efforts because companies are attracted to states with areputation for solid and stable financial management.” “While we celebrate this important milestone, we must remindourselves what it took to get here and what it will take to stay here,”the Governor added.  “We must continue to maintain our commitment tofiscal responsibility and conservative debt management.” v\:* {behavior:url(#default#VML);}o\:* {behavior:url(#default#VML);}w\:* {behavior:url(#default#VML);}.shape {behavior:url(#default#VML);}st1\:*{behavior:url(#default#ieooui) }JAMES H. DOUGLAS            GOVERNOR Montpelier, Vt. – Governor Jim Douglas and State Treasurer JebSpaulding today announced Moody’s Investor Services has upgraded Vermont’s bond ratingto triple-A, the highest credit worthiness rating available. “A higher rating makes our bonds more attractive to investors,lowers our costs and saves taxpayer money,” the Governor said. “Gettingto this point has required a tremendous amount of cooperation and planning by boththe executive and legislative branches.  It also required a healthy dose ofgood old-fashioned Vermontfrugality.” State of VermontOFFICE OF THE GOVERNORlast_img read more

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Vermont ranks 8th highest in tax burden study

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first_imgNew Jersey Edges New York for Nation’s Highest State-Local Tax BurdenWashington, D.C., August 7, 2008 – New Jersey taxpayers bear the heaviest state-local tax burden in 2008, and Alaskans have the lightest tax burden, according to a new report from the Tax Foundation. In Tax Foundation Special Report, No. 163, “State-Local Tax Burdens Dip As Income Growth Outpaces Tax Growth,” senior economist Gerald Prante computes each state’s combined state-local tax burden, accounting for taxes paid out of state. The nation as a whole paid 9.7% of its income in state-local taxes, down from 9.9% in 2007 primarily because income grew faster than tax collections between 2007 and 2008. New Jersey residents paid 11.8%, topping the charts. New Yorkers were close behind, paying 11.7%, and Connecticut was third at 11.1%. The top ten were rounded out by Maryland (10.8%), Hawaii (10.6%), California (10.5%), Ohio (10.4%), Vermont (10.3%), Wisconsin (10.2%) and Rhode Island (10.2%). Alaskans pay the least, 6.4 percent in 2008, but Nevada is close at 6.6 percent. In four states the residents pay between 7 and 8 percent of their income in state-local taxes: Wyoming (7.0%), Florida (7.4%), New Hampshire(7.6%) and South Dakota (7.9%). Four other states round out the bottom ten: Tennessee (8.3%), Texas (8.4%), Louisiana (8.4%) and Arizona (8.5%). Tax Foundation rankings are sometimes confused with rankings based on Census Bureau’s tallies of state and local tax collections. The difference is out-of-state tax payments. When state and local governments collect large amounts from non-residents, whether as tourists, commuters, businesses or property owners, Census counts those payments in the collections of the taxing state; the Tax Foundation study counts them in the residential state of the taxpayer. The most recent estimates are for fiscal year 2008 which ended June 30, and the historical burden data cover the 32 years starting with 1977. Historical data and rankings, sorted by year and by state, are available to reporters on an embargoed basis. At 10 a.m. ET on Thursday, they’ll be posted at http://www.taxfoundation.org/taxdata/show/336.html(link is external) and http://www.taxfoundation.org/taxdata/show/335.html(link is external). The new report, “State-Local Tax Burdens Dip As Income Growth Outpaces Tax Growth,” will also be posted Thursday morning at 10 a.m. ET at (a href=”www.taxfoundation.org/publications/show/22320.html(link is external)”>www.taxfoundation.org/publications/show/22320.html(link is external). The Tax Foundation is a nonpartisan, nonprofit organization that has monitored fiscal policy at the federal, state and local levels since 1937.last_img read more

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Burlington’s Miller Center gets $166,000 grant

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first_imgRep. Peter Welch announced a $166,000 federal grant for the Robert Miller Community and Recreation Center Monday at a Burlington press conference with Mayor Bob Kiss.The grant secured by Welch will support Burlington s transformation of the Gosse Court Armory into a multi-use community center with a gym, a community room, a teen center and other public space. The $1.2 million project also received funding from the City of Burlington, private donors and developer Robert Miller.Managed by the Burlington Parks and Recreation Department, the Center coordinates programs and recreational opportunities for people of all ages. Since its opening in January, the Miller Center has attracted roughly 6,600 visits by residents each month. The creation of the Miller Center was in every way a community effort. Since 2005, the people of Burlington, city officials, private donors and Bobby Miller himself have teamed up to turn this dream into a reality, Welch said. I am pleased to make this community resource available for North End residents and others to enjoy for years to come.Welch was joined at the announcement by Mayor Kiss, Parks and Recreation Director Wayne Goss and Parks Commission member John Ewing. The transformation of the Gosse Court Armory into a community center is a significant event for Burlington s North End and the city as a whole, said Mayor Kiss. Congressman Welch s persistent support for this project and his securing of federal funding for its completion have been very important to the project s success. On behalf of the city and people of Burlington, I d like to thank the Congressman for all his efforts to make this project a reality.last_img read more

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Hannaford Vermont promoting scratch cards

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first_imgHannaford Food & Drug South Burlington,Delhaize America has announced a new promotion where its customers have the chance to win up to $250,000 by shopping Delhaize America stores, including Hannaford supermarkets in Vermont.Every game card distributed has the potential to be a winning card, and the card could earn customers as much as $250,000 in prizes.  The company expects to award a total of more than $5 million to approximately 3 million customers during the summer promotion, with prizes ranging from $1 to $250,000 per winning card.All Delhaize America banners are participating in the Great Grocery Giveaway, including Bottom Dollar Food, Hannaford, Sweetbay and the Food Lion family of banners – Food Lion, Bloom, Harveys and Reid’s.The Great Grocery Giveaway will reward customers who shop at any of the company’s more than 1,600 stores in 16 states. Customers who shop these supermarkets will receive a scratch-and-win game card for every qualifying transaction.The promotion started last week and will continue until all game cards are distributed to customers.  To participate in the Great Grocery Giveaway, shoppers can:Receive a scratch-and-win game card with every qualifying transaction. Loyalty card customers may receive bonus cards by purchasing Bonus Game card products, which will be noted with bonus signage in the store.Scratch off three circles on each card.  If the three circles match, customers can scratch the Prize Box to learn what cash prize they have won.  Instructions for prize redemption are detailed on the game card.A mail-in entry method that does not require a purchase is available. Please see the official rules for details.  Official game rules, and other details, are available on all banner Web sites. SOURCE Delhaize America. SCARBOROUGH, Maine, SALISBURY, N.C., and TAMPA, Fla., July 27, 2010 /PRNewswire/ — This is the first contest promotion involving all Delhaize America banners.About Delhaize AmericaDelhaize America is a leading supermarket operator in the United States with more than 1,600 stores in 16 states in the eastern United States. Delhaize America operates under the banners Bloom, Bottom Dollar Food, Food Lion, Harveys, Hannaford Supermarkets, Reid’s and Sweetbay, each of which has a distinct strategy and a well-established brand image. Through its multiple banners, Delhaize America is able to target the needs and requirements of specific markets, customize its product and service offerings and maintain strong brand recognition with its local customers. Delhaize America employs approximately 109,000 full-time and part-time associates.About Food Lion FamilyThe Food Lion Family, based in Salisbury, N.C., operates more than 1,300 supermarkets, either directly or through affiliated entities, under the names of Food Lion, Bloom, Harveys or Reid’s. These stores meet local customer needs and preferences for the freshest and best quality products. The Food Lion Family employs approximately 74,000 associates in 11 Southeast and Mid-Atlantic states. For more information, visit www.foodlion.com(link is external).About Bottom Dollar FoodBottom Dollar Food, based in Salisbury, N.C., operates 28 stores in North Carolina, Virginia and Maryland. Bottom Dollar Food is a full-shop discount grocer offering the most popular national brands and private brand products at everyday best prices. Bottom Dollar Food is redefining discount shopping with its lighthearted atmosphere and focus on fresh produce and quality meats. For more information, visit www.bottomdollarfood.com(link is external).About Hannaford SupermarketsHannaford Supermarkets, based in Scarborough, Maine, operates 176 stores and employs more than 27,000 associates inMaine, Massachusetts, New Hampshire, New York and Vermont. Most Hannaford locations have full-service pharmacies and all stores feature Guiding Stars, the nation’s first storewide nutrition navigation system. In 2009, Hannaford became the first supermarket chain in the world to open a store built to the highest standards (Platinum LEED) of the U.S. Green Building Council.  For more information visit www.hannaford.com(link is external).About Sweetbay SupermarketsSweetbay Supermarkets provides a one-of-a-kind shopping experience, built from the ground up and developed from research in core markets to express the vibrant, exciting and diverse tastes, colors and aromas of food important to Floridians. Sweetbay offers outstanding value, quality and variety, routinely partnering with Florida growers, to bring shoppers the freshest food available in the state. Sweetbay Supermarkets was launched in November 2004 and is headquartered in Tampa, Fla.Sweetbay has 104 stores in Florida.  For more information, go to www.sweetbaysupermarket.com(link is external).last_img read more

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People’s United Bank donates $15,000 to Shareheat

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first_imgHoping to ensure crisis heating funds are available to assist low-income Vermonters this winter, People’s United Bank has donated $15,000 to the CVPS Shareheat Fund.The People’s United Bank donation will go into a pool of funds that will be used to match customer donations to the heating assistance program. Customer donations, along with the matching dollars, are distributed to five community action agencies across the state to assist those in need.‘People’s United Bank’s generosity will help protect families across our service territory,’ CVPS President Bob Young said. ‘Combined with CVPS’s donation and grants from other Vermont businesses, the matching pool now totals $145,000.’‘People’s United Bank supports the Shareheat program because its design leverages additional funds and addresses a critical need in Vermont,’ said Kathy Schirling, director of marketing and community services of People’s United Bank. ‘We encourage anyone in a position to do so to join us in protecting our friends and neighbors who may be struggling to stay warm.’CVPS shareholders will provide $100,000 to Shareheat this season. People’s United joins Carris Reels, Passumpsic Savings Bank, Weidman Electrical Technology, and The Vermont Country Store as Shareheat Business Partners. Carris Reels, Passumpsic Savings Bank and Weidman Electrical Technology donated $5,000 each, while The Vermont Country Store provided $15,000.‘Each of these businesses has supported the program over a period of years, making an enormous contribution to the fabric of our communities,’ Young said. ‘These are outstanding companies that share a common belief that businesses like ours have a collective responsibility to our communities and customers.’Businesses that would like to join the Shareheat Business Partnership Program may call Steve Costello at 747-5427 for more information. Anyone needing crisis fuel assistance should contact their local community action agency.CVPS Shareheat is a program of last resort for over 1,000 Vermont families each year. Funds are available to assist people who face heating emergencies, often because they never expected to need assistance, lost a job, or have exhausted all other available assistance.Contributions should be made payable to the CVPS Shareheat Fund. Donations may be mailed with a CVPS payment, or sent separately to CVPS Shareheat, 77 Grove St., Rutland, VT 05701.last_img read more

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UVM’s Hood becomes president of American College of Physicians

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first_imgVirginia L Hood, M.B.B.S., M.P.H., F.R.A.C.P., F.A.C.P., professor of medicine at the University of Vermont, has been elected 2011-2012 president of the American College of Physicians (ACP), the nation’s largest medical specialty organization. UVM medical alumnus David Bronson, M.D.’73, F.A.C.P., president of Cleveland Clinic Regional Hospitals, has been named president-elect. Their terms began during Internal Medicine 2011, ACP’s annual scientific meeting, held April 7 to 9, 2011 in San Diego, Calif.Hood has been a Fellow of the American College of Physicians (FACP) — an honorary designation that recognizes ongoing individual service and contributions to the practice of medicine — since 1991. She served as ACP governor for the Vermont chapter from 1991 to 1994 and in 2003, was named a laureate of the Vermont chapter. These awards honor local fellows or masters of ACP who have demonstrated a long-term commitment to excellence in medical care, education or research, or who have provided service to their community, chapter and ACP.Hood was elected to the ACP Board of Regents in 2005 and re-elected in 2008. She served as the 2008-2010 chair of the ACP Ethics, Professionalism and Human Rights Committee. Hood has also served as chair of the ACP International Subcommittee, now the International Council, and the Awards Committee. She served as a member of the Scientific Program Committee and is an ex-officio member of the ACP Membership Committee.Board-certified in internal medicine and nephrology, Hood earned a medical degree from the University of Sydney and completed a residency at Mater Misericordiae Hospital in Australia. She completed two years of fellowship training in nephrology at Royal Prince Alfred Hospital and her third year of fellowship training at the former Medical Center Hospital of Vermont (now Fletcher Allen Health Care). In 1993, she received a master’s degree in Public Health from the Harvard School of Public Health.A resident of Burlington, Hood is an attending physician and chair of the Residents’ Research and Scholarly Activity Committee at Fletcher Allen Health Care. She is also a consulting physician for Central Vermont Medical Center. In addition to her involvement with ACP, Hood has served in an advisory capacity to the State of Vermont’s health care programs as a member of the Drug Utilization Review Board in the Office of Vermont Health Care Access (Medicaid). She also served as a member of the Diabetes Surveillance Committee, Healthy Vermonters 2010 Heart Disease Workgroup and Ladies First Program for the Vermont Department of Health. Hood contributed to developing and updating the guidelines for Management of Diabetes for the Vermont Program for Quality in Health Care.Bronson, who leads Cleveland Clinic’s nine community hospitals in northeast Ohio, is a member of the Board of Regents of the ACP. A professor of medicine at the Cleveland Clinic Lerner College of Medicine of Case Western Reserve University, he has served on Cleveland Clinic’s Board of Governors, Board of Trustees and the Executive Management Team. Bronson is a member of the Board of Commissioners of the Joint Commission and is the immediate past Chairman of the Board of Directors of the American Medical Group Association. He joined Cleveland Clinic in 1992 and led the Clinic’s multi-site regional practices, including operations in Canada, from 1995 to 2008. After receiving his medical degree from UVM, Bronson completed residencies in internal medicine at the University of Wisconsin and the former Medical Center Hospital of Vermont, where he was chief resident.The American College of Physicians is the largest medical specialty organization and the second-largest physician group in the United States. ACP members include 130,000 internal medicine physicians (internists), related subspecialists, and medical students. Internists specialize in the prevention, detection, and treatment of illness in adults.###last_img read more

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Recovery workers urged to use caution around utility lines

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first_imgWith so much activity taking place around overhead and underground electrical equipment in the wake of Hurricane Irene, Central Vermont Public Service is warning workers to be careful to avoid situations involving contact with these types of devices. In some areas, utilities may have lost the ground-to-cable clearances they had prior to the flood. Vermont utilities urge all contractors and state and federal agencies to use caution along power lines, and encourage them to report any ‘defects’ to the utility systems, such as low-hanging lines, they may notice in the field. Central Vermont Public Service offers the following tips to help contractors stay safe during the recovery: Remember to stay at least 10 feet away from electrical lines with equipment such as crane booms and cables, excavators, backhoes and raised dump bodies.Stay away from and do not handle any downed utility cables. Report such conditions to the power company, and keep others away as well. Do not assume that since they’re down that they’re de-energized. Do not try to move them out of your way; either by hand or with your equipment.Please report any washed out or dangling poles and their support devices.Please report any washed out underground utility cables and stay clear of them.Please report any low-hanging utility cables and stay clear of them. Remember ground to overhead cable clearances may not be what they were prior to the flood. To contact CVPS, call 800-649-2877.last_img read more

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Virginia Governor Questions Continuance of Tax Subsidies for Failing Coal Companies

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first_imgVirginia Governor Questions Continuance of Tax Subsidies for Failing Coal Companies FacebookTwitterLinkedInEmailPrint分享Alicia Petska for the Roanoke Times:The state’s coal employment tax credit — which cost the state an estimated $28.4 million last year— is due to sunset at the end of December. Southwest Virginia lawmakers are again pushing to reset that clock and extend the program by three to five years.But Gov. Terry McAuliffe, who vetoed extension bills last year, is renewing his concerns about the program.McAuliffe, pointing in part to the findings of a 2012 study, has called for revamping how the state funnels money into the coalfield region’s economic development.“I’ve been pretty vocal on the coal tax credit. It hasn’t worked,” he told reporters after an event Friday. “We’ve spent hundreds of millions of dollars on it, and we’ve still lost a lot of jobs. I’ve got to protect taxpayer dollars. I’ve got to invest our tax dollars so we can grow our economy.”But the coal companies who have come to rely on the industry tax break — one of the larger ones the state offers — are pleading with lawmakers not to kill the program.“This is absolutely key to our survival, and we’re in a survival mode,” Donnie Ratliff of Alpha Natural Resources, which declared bankruptcy last summer, told a House subcommittee during a hearing Friday.Virginia offers two major tax credits targeted at the coal industry. One benefits coal mine operators while another is used by power companies that purchase coal — though portions of the second can be shifted to mine operators.The tax credits were created to slow the decline of Virginia’s coal industry, but a 2012 Joint Legislative Audit & Review Commission study questioned whether they were succeeding.Coal production has continued to plummet, it found, and mining jobs have disappeared at faster-than-projected rates. In 1988, Virginia had over 11,100 coal jobs, according to the state’s finance office. Today, only about 2,800 remain.That was despite the state plowing over $610 million into coal tax credits during that period.Glen Besa, state director for the Sierra Club, contended it would be short-sighted of Virginia to continue banking so heavily on coal and subsidizing companies like Alpha Natural Resources, which he criticized for filing for bankruptcy and then seeking permission to pay millions of dollars in executive bonuses.The state’s coal production is only going to continue to decline, Besa said.“When you find yourself in a hole, the first thing you should do is stop digging,” he said. “There’s no question that coal has run this country for over 100 years, and the people that mine that coal should be respected. But we should be finding ways to help those people and that region make the transition away from coal.”Full article: McAuliffe, lawmakers argue over coal tax creditslast_img read more

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Michigan Legislators Move to Slow Growth of Renewables, End State Energy-Efficiency Program

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first_img FacebookTwitterLinkedInEmailPrint分享Andy Balaskovitz for Midwest Energy News:Driven by Republican support, Michigan lawmakers advanced a pair of comprehensive energy bills Wednesday that seek to put more restrictions on the state’s electric choice program and limit clean energy standards.SB 438, which passed the Senate Energy and Technology Committee 7-3 along party lines, would hold a 10 percent renewable energy standard “floor” going forward and phase out Michigan’s successful energy efficiency program by 2021. The bill establishes a 35 percent clean energy goal by 2025, which would include energy efficiency and an expanded definition of renewable energy to include incineration.Proposed amendments backed by Democrats to increase the state’s renewables portfolio standard to 15 percent and 20 percent failed, as did a proposal to extend the efficiency standard to 2025.“I think we missed a golden opportunity here to build on very successful 2008 energy legislation and bring more parties on board to build support,” said Sen. Hoon-Yung Hopgood.The bill does not, however, eliminate the state’s solar net metering program in favor of a “buy-all, sell-all” model where generators would buy their electricity from a utility and reimburse at roughly wholesale rates. That proposal originally drew fierce criticism from clean energy advocates. Though some changes were made for net metering provisions, existing participants would be grandfathered in under the existing system.SB 437 would maintain Michigan’s 10 percent cap on customers who can participate in electric choice, but place greater restrictions on alternative energy suppliers to provide capacity and on customers who participate.Full article: Michigan lawmakers advance bills to abandon clean energy standards Michigan Legislators Move to Slow Growth of Renewables, End State Energy-Efficiency Programlast_img read more

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Five companies mined 53% of U.S. coal production in 2018—S&P

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first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Five coal companies produced more than half of the coal mined in the U.S. in 2018, while struggling Powder River Basin coal producer Cloud Peak Energy Inc. was bumped from the third-largest coal producer in the country to the fourth-largest.The five largest coal companies in the U.S. produced about 403.5 million tons of coal, or 53.4%, of the 755.9 million tons produced in 2018, an S&P Global Market Intelligence analysis found. The top five coal producer rankings remained largely the same from 2017 to 2018, except that Murray Energy Corp., which primarily mines coal in the Northern Appalachia and Illinois basins, overtook Cloud Peak in terms of coal production volume.Murray Energy, like many of the largest coal producers, reported relatively flat production from the mines it owned in 2018 compared to the same mines’ output in 2017. Murray Energy declined to comment about its production levels or future production plans.Coal production at Cloud Peak mines declined by 14.0% from 2017 to 2018. The company has struggled with operational issues at its Antelope mine and recently warned that it was considering Chapter 11 bankruptcy reorganization.Peabody Energy Corp., the largest coal producer in the U.S., mined about one-fifth of the coal produced in 2018. The company’s U.S. production of 155.5 million tons was down about 2.1% compared to the prior year and may go even lower in 2019 under Peabody’s plan to reduce volumes from North Antelope Rochelle, its flagship Powder River Basin mine, by about 10 million tons.More ($): Top 5 miners produced over half of U.S. coal in 2018; Cloud Peak’s ranking slips Five companies mined 53% of U.S. coal production in 2018—S&Plast_img read more

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