SEC turns up heat on Quiros

Featured

copyright the Chronicle May 18, 2016

by Joseph Gresser

Federal regulators turned up the heat on Ariel Quiros Tuesday when they filed an amended complaint in the civil case against the owner of Jay Peak Resort.  Mr. Quiros, along with many of his businesses, and Bill Stenger, former president of Jay Peak, were first charged with violating federal securities laws in connection with several EB-5 funded projects in a suit filed on April 12 by the Securities and Exchange Commission (SEC).

In filing an amended version of its initial complaint Tuesday, the SEC sharpened its accusations against Mr. Quiros, specifically charging that he used investor money from later phases of his eight EB-5 projects to make up shortfalls in earlier phases.

The SEC has held all along that Mr. Quiros misused, wrongly co-mingled, and stole money from foreign investors who sought permanent residency status in the U.S. by means of the EB-5 visa program.  Those investors and their families would be eligible for green cards if their $500,000 investments in a business in a hard-up area of the U.S. produced at least ten permanent jobs.

Jay Peak financed extensive developments, including three hotels, a water park, a skating area, and numerous other vacation properties, through the visa program.  Mr. Quiros also used money from the program to pay for a hotel at Burke Mountain, and planned to build a biomedical facility in Newport with EB-5 investment.

The SEC claims Mr. Quiros took $55-million for himself and could leave investors without their money or a path to residency in the U.S. if his most recent projects remain unfinished.

In the amended version of its complaint, the SEC specified which projects it claims Mr. Quiros stole from and details how he used the money he allegedly took.

The amended charges say Mr. Quiros and his associates took $6.5-million more than they were entitled to from the project that built the golf clubhouse and a number of condominiums at Jay Peak.  Mr. Quiros also failed to invest a promised $3.8-million…To read the rest of this article, and all the Chronicle‘s stories, subscribe:

Print subscription

Annual online subscription

Short-term online subscription

(To find a particular article, search for the corresponding edition of the newspaper)

Share

Weak loonie cuts into Canadian travel and maple syrup prices

Featured

 

copyright the Chronicle February 24, 2016

by Nathalie Gagnon-Joseph

The increasingly weak Canadian dollar is affecting both U.S. business along the border and the price of maple syrup.

Between 2010 and 2014, the Canadian dollar’s value fluctuated right around $1 American. Since then, its value has steadily dropped, reaching a low point on January 20 of about 68 cents U.S., according to tradingeconomics.com.

Apparently, the Canadian dollar is tied to the price of oil because Canada exports a lot of it. Given that the price of oil is low, so is the loonie.

The Fédération des Producteurs Acéricoles du Québec (FPAQ) sets syrup prices in Canadian dollars, so when the loonie’s value goes down in American dollars, so does the price of syrup.

Quebec sugarmakers provide maple syrup for over 70 percent of the global market, the FPAQ website says.

Because there are so many of them, the price set for their product becomes the base price for… To read the rest of this article, and all the Chronicle‘s stories, subscribe:

Print subscription

Annual online subscription

Short-term online subscription

(To find a particular article, search for the corresponding edition of the newspaper.)

Share

In Barton: A mixed reaction to townwide yard sale

Featured

 

Antiques and More was one of the many antique shops in Barton that did well at Barton’s townwide yard sale this year.  To other businesses, it was just another Saturday.  Photo by Nathalie Gagnon-Joseph

Antiques and More was one of the many antique shops in Barton that did well at Barton’s townwide yard sale this year. To other businesses, it was just another Saturday. Photo by Nathalie Gagnon-Joseph

copyright the Chronicle July 1, 2015

by Nathalie Gagnon-Joseph

BARTON — The townwide yard sale, started 20 years old with the hope of bringing people to Barton, certainly does that. Whether it also brings economic activity to local businesses likely depends on what they sell.

Saturday’s annual yard sale was a real boon for the antique shops in town, but other businesses didn’t report much, if any, economic benefit at all.

In a single sale, Village Treasures owner Leo McElroy made half of what he expected to make for the whole day.

But at the Circle K, James Marcy said the mini-mart actually lost money because it staffed extra for customers who didn’t arrive.

And at The Parson’s Corner restaurant, owner Dave Rath said…To read the rest of this article, and all the Chronicle‘s stories, subscribe:

Print subscription

Annual online subscription

Short-term online subscription

(To find a particular article, search for the corresponding edition of the newspaper.)

Share

New eatery comes to Barton

Featured

 

WEB eddie truck outsidecopyright the Chronicle June 24, 2015

by Natalie Hormilla

BARTON — Eddie Seadale’s newest food venture is operated out of a truck. Mr. Seadale, former owner of The Parson’s Corner restaurant, has set up the truck at the business he owns with his wife, Lori, River’s Edge Farmstand.

Mr. Seadale cooks and serves up a menu that’s made up on the fly — but he doesn’t seem even remotely worried about that.

“When Mom will say, Edward, I’m thinking of making this, I say, Great, because I know it’ll be good,” he said, zipping about his teeny kitchen Monday afternoon. “That’s how we roll.”

Mr. Seadale and his mother, Anne Seadale, are the duo behind the Copper Plate, which opened earlier this month. Mr. Seadale’s mother turns 83 in July, and the two have worked together before.

“We worked together in Southie at my first place.….To read the rest of this article, and all the Chronicle‘s stories, subscribe:

Print subscription

Annual online subscription

Short-term online subscription

(To find a particular article, search for the corresponding edition of the newspaper.)

Share

More agriculture, more jobs

Featured

 

Sweet Rowen Farmstead owner Paul Lisai poses in front of his creamery with his 16-year-old dog, Bailey.

Sweet Rowen Farmstead owner Paul Lisai poses in front of his creamery with his 16-year-old dog, Bailey.  Photos by Nathalie Gagnon-Joseph

copyright the Chronicle May 6, 2015

by Nathalie Gagnon-Joseph

The six-year-old Farm to Plate initiative appears to be doing its job and has noticeably helped bolster Vermont’s farm and food economy, according to a report released earlier this year.

Among other things, the report, conducted by the Vermont Sustainable Jobs Fund, says that, statewide, there were 748 food manufacturing firms in the state in 2014, a 37 percent increase over 2009. And between 2009 and 2013 4,189 new jobs were created in the food system. In all, about 60,000 Vermonters are employed as farmers, waiters, cheesemakers, brewers, bakers, butchers, grocery stockers, restaurateurs, manufacturers, marketers, distributors and other food related jobs, the report says.

Farm to Plate was part of the Vermont Recovery and Reinvestment Act of 2009.

Continue reading

Share

Sugaring season was short

Featured

Alfred Carrier and his son, Alfred Carrier Jr., take a moment from sugaring to pose for a family photo.  The younger Mr. Carrier says that he has only missed one day of sugaring in the seven years since the family began making maple syrup.   Photos by Elizabeth Trail

Alfred Carrier and his son, Alfred Carrier Jr., take a moment from sugaring to pose for a family photo. The younger Mr. Carrier says that he has only missed one day of sugaring in the seven years since the family began making maple syrup. Photos by Elizabeth Trail

copyright the Chronicle April 29, 2015

by Elizabeth Trail

Alfred Carrier and his son Alfred Carrier Jr., were among the last people in Orleans County still making maple syrup this past weekend. Many local sugarmakers report that they quit boiling early last week.

Local sugarmakers say the season was nothing to brag about. While some made close to a regular crop, others said they made about half as much as normal. Sugarmakers who do not use vacuum had a particularly skimpy crop.

Asked how her season was, Janet Osborne in Island Pond said, “Horrid.”

Continue reading

Share

Wanted: foster homes

Featured

Deb Richards (left) and Suzanne Shibley at the Newport District Office of Family Services.  The area is badly in need of foster homes.   Photo by Tena Starr

Deb Richards (left) and Suzanne Shibley at the Newport District Office of Family Services. The area is badly in need of foster homes. Photo by Tena Starr

copyright the Chronicle March 11, 2015

by Tena Starr  

NEWPORT — Erica Page always thought she was meant to be a foster parent. After years of unsuccessfully trying to have children of their own, she finally told her husband, Shaun Sykes, “Enough is enough. Let’s become parents in a different way.”

In May, Ms. Page and Mr. Sykes got their first placement, a boy, who is now four. They also have a four-month-old girl in their home.

Continue reading

Share

Industrial sugaring comes to Brighton

Featured

Art by Brianne Nichols

Art by Brianne Nichols

copyright the Chronicle March 4, 2015

by Joseph Gresser

BRIGHTON — The days of making maple syrup to raise a little cash for property taxes have been gone for quite a while now. But an Island Pond sugaring operation getting ready for its first season could usher in a whole new era of industrial sugaring.

Sweet Tree, LLC, started and owned by a Connecticut-based investment firm, just finished tapping trees on 3,600 acres in Warren’s Gore and will be ready to fire up the steam-powered evaporators at the old Ethan Allen furniture plant in Brighton as soon as the weather breaks.

Continue reading

Share

Navigating the complexities of the simple life

Featured

WEB Hewitt bookcopyright the Chronicle December 3, 2014

The Nourishing Homestead: One Back-to-the-Land Family’s Plan for Cultivating Soil, Skills, and Spirit, by Ben Hewitt with Penny Hewitt. Published by Chelsea Green Publishing, White River Junction, 2015; Paperbound, 352 pages; $29.95.

Reviewed by Joseph Gresser

Some books need to be written again as each new generation comes of age. Walden, by Henry David Thoreau, may have set the template for one of these books, the exhortation to the reader to give up conventional expectations and live a radically simplified life.

Living the Good Life, by Helen and Scott Nearing, set forth a version of that message adapted for a very different world. To give them full credit, the Nearings lived according to their principles far longer than the year or two Mr. Thoreau spent in the woods.

Continue reading

Share

In Greensboro: After 114 years, Willey’s Store remains famously eclectic

Featured

Robert Willey-Hurst, current president of Willey's Store, Inc., has worked tirelessly these past six years to see that the store remains a community center.  Photos by David Dudley

Robert Willey-Hurst, current president of Willey’s Store, Inc., has worked tirelessly these past six years to see that the store remains a community center. Photos by David Dudley

copyright the Chronicle December 3, 2014

by David Dudley

GREENSBORO — While stories about Black Friday’s frenzied shopping flooded the Internet, the day after Thanksgiving began like any other at Willey’s Store, which is now in its one hundred and fourteenth year of operation.

Robert Willey-Hurst, president of the Willey’s Store, Inc., opened the store at 7 a.m. as usual. The only thing he did differently was stretch the annual winter sale, which usually runs for a single weekend, into a two-week event this year.

Continue reading

Share