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The 5x5x5 Growth Awards

first_imgThe 5x5x5 Growth Awards celebrates the top 5 fastest growing Vermont businesses in each of 5 categories: Technology, Contracting, Retail, Wholesale and Manufacturing.The event is moderated by Lisa Ventriss, president of the Vermont Business Roundtable, and will feature presentations by the presidents and CEO’s of Connor Contracting, Inc.; Vermont Pure Holdings, Inc.; Hubbardton Forge Corporation; Gardener’s Supply Company; and Chroma Technology, Inc.A question & answer period will follow the presentation. The businesses honored include: Neagley & Chase Construction, The Snyder Companies, ARC Mechanical Contractors, Wright & Morrissey, Casella Waste Systems, Seventh Generation, C&S Wholesale Grocers, Bond Auto Parts, Vermont Teddy Bear Company, Sonnax Industries, Green Mountain Coffee Roasters, King Arthur Flour Company, Feed Commodities International, Bethel Mills, Kinney Motors, Allen Engineering Pools & Spas, IDX Systems Corporation, Vermont Medical, Resolution and IVEK Corporation.The event begins with a networking reception with the honorees, followed by the presentation. Opening remarks will come from Vermont Business Magazine Publisher, John Boutin, and Keybank President, Scott Carpenter.The event is free and recommended to all small business owners and business people. It will be catered by the Sheraton Conference Center. To register, please call (802) 660-4471 by September 25th, or, register online at rsvp_vt@keybank.com(link sends e-mail).For questions and information about the 5x5x5 Growth Awards please contact John Boutin or Mary Collins at Vermont Business Magazine at (802) 863-8038. Or view details about the event online at www.vermontbiz.com.last_img read more

I-88 reopened after rollover causes shut down

first_img(WBNG) — A tractor-trailer rollover has closed all westbound lanes of Interstate 88 in the town of Otego. Traffic is being diverted off Exit 12, down State Route 7 and travelers can re-enter I-88 in Unadilla. The Department of Transportation is helping direct traffic and crews are working to get the debris cleared. 12:29 P.M. UPDATE: The New York State Police Department says the rig was carrying milk and other items which spilled onto the interstate. State Police say no injuries were reported in the incident. —– (WBNG) — Authorities have reopened I-88 following the rollover near the town of Otego. For the last information, click here.last_img

Dutch government considers extending pension-fund recovery periods

first_imgKlijnsma, however, said the regulator had concluded that, by extending the recovery period by one year, 24 pension funds would have to implement a 0.4% discount on average for 2m participants, including 190,000 pensioners next year.Under a 12-year improvement term, the necessary discount could be reduced to 0.4% at no more than 17 schemes.In her letter, Klijnsma took pains to emphasise the importance of the social partners, which, she suggested, could affect recovery conditions by adjusting pensions targets or by raising contributions.If, by the end of December, a Dutch pension fund’s coverage ratio has fallen so low it is unlikely to recover within 10 years, it must begin cutting rights immediately.The critical funding level can vary, depending on a scheme’s investment portfolio, but it generally stands at 90-95%.According to Aon Hewitt, on average, pension funds’ coverage stood at 100% last week.The nFTK calls for a minimum funding of 105% .Pension funds with a coverage between the critical level and the required minimum, however, can start implementing cuts later, as long as they are able to improve within the set 10-year period.The Dutch Bureau for Economic Policy Analysis (CPB), in a report that was also submitted to parliament, said longer recovery terms would be particularly beneficial for older workers at pension funds less than 100% funded. Jetta Klijnsma, state secretary at the Dutch Social Affairs Ministry, has confirmed that the government plans to decide early next year whether to extend the 10-year recovery term for the country’s beleaguered pension funds.In a letter to parliament, she said the decision would depend on schemes’ financial position at year-end, which is the criterion for rights cuts, as set out in the new financial assessment framework (nFTK).Klijnsma warned that, based on the regulator’s Q3 funding estimates, 30 pension funds would be forced to discount pension rights – by more than 0.7 percentage points on average – for more than 2.1m participants and pensioners next year.Current recovery rules dictate that pension funds must cut pension rights by a equal percentage annually over the next 10 years, with a view to achieving the required funding level of 125%.last_img read more

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