Median family income in Vermont rose to a record high of $65,786 in 2007, according to The Vermont Economy Newsletter’s annual analysis of just-released Vermont Tax Department income data. The income earned by the median family (half of all families earn more and half earn less than the median) rose by 4.6% or $2,900 in 2007.While incomes grew by 4.6%, prices increased by 2.8%, yielding an inflation-adjusted income growth rate of 1.7%.”Inflation-adjusted income grew by a healthy 1.7% in 2007,” noted Art Woolf, co-author of the report and editor of The Vermont Economy Newsletter. “And that was on top of an equally healthy 1.6% growth in 2006. Over the long term, annual income growth in Vermont is 1.5%, so income growth in 2006 and 2007 was better than average.”The Vermont Economy Newsletter’s forecast for 2008 and 2009 is not so sanguine. “The economy began slowing in 2008 and will continue to slow as the full impact of the recession takes hold,” noted Richard Heaps, the study’s other co-author. “We believe that while income gains were healthy in 2008, the high inflation caused by the rapid growth in energy and food prices eroded most of those gains,” he said. “And the outlook for 2009 is even worse. Incomes will barely grow. And although inflation will be low in 2009, it will be high enough and income growth low enough to cause a decline in inflation-adjusted family income,” he continued.The study foresees a modest decline in inflation-adjusted family income in both 2008 and 2009.Family income data for 2008, based on tax returns that Vermonters are now beginning to file, will be available in December 2009.Actual Data: Vermont Median Family IncomeYearActual DollarsInflation Adjusted1975$12,036$41,2261976$13,440$43,5371977$14,466$44,0491978$16,533$48,2211979$17,967$47,8231980$19,193$45,9821981$20,622$45,1111982$21,019$43,3621983$22,510$44,5371984$23,609$44,8751985$25,343$46,5721986$27,347$49,3611987$30,618$53,4591988$32,750$55,1571989$34,680$55,9921990$35,399$54,4391991$35,460$52,6451992$36,953$53,5051993$37,557$53,0681994$38,755$53,6161995$40,407$54,5871996$42,262$55,6131997$44,516$57,3401998$47,309$60,0981999$49,578$61,6942000$52,387$63,0762001$53,609$62,7842002$53,790$61,9952003$54,958$61,9572004$57,677$63,3122005$59,959$63,6822006$62,912$64,6972007$65,786$65,7862008F$68,089$65,5332009F$68,429$65,208www.vteconomy.com(link is external)
Statewide— Duke Energy is warning its customers to be on guard against phone calls from scammers who are demanding that utility customers pay their electric bill immediately or risk having their electric service disconnected within the hour.Typically, the customer receives an unsolicited phone call—sometimes an automated call– from an individual who falsely claims to be a Duke Energy representative demanding immediate payment, usually in the form of a prepaid debit card. Scammers have even duplicated the Duke Energy upfront Interactive Voice Response system, so when customers call back phone numbers provided by the scammer, it sounds like a legitimate Duke Energy phone number. Some of these criminals also use caller-ID spoofing to replicate a utility’s customer service number.Red flags for scam activityThe caller becomes angry and tells the customer his or her account is past due, and service will be disconnected if a large payment isn’t made – usually within the hour.The caller instructs the customer to purchase a pre-paid debit or credit card – widely available at retail stores – then call him or her back to supposedly make a payment to Duke Energy.The scammer asks the customer for the prepaid card’s receipt number and PIN number, which grants instant access to the card’s funds.The customer has received no other notice from Duke Energy that an account is overdue.How to protect yourselfDuke Energy never asks or requires a customer with a delinquent account to purchase a prepaid debit card – or iTunes card — to avoid disconnection.Customers can make payments online, by phone, automatic bank draft, or mail.Customers with delinquent accounts receive advance disconnection notification with the regular monthly billing – never a single notification one hour before disconnection.Customers who suspect or experience fraud or feel threatened during contact with one of these thieves, should contact local law enforcement authorities and then the Duke Energy Indiana phone number listed on their bill (800.521.2232). Never dial the phone number the scammers provide.Customers can get more scam and fraud prevention information at Duke Energy’s Fraud and Scams web page by clicking here.
1 Raheem Sterling Raheem Sterling believes the most exciting aspect of his record-breaking transfer to Manchester City is being able to play alongside so many world class players.The 20-year-old becomes the club’s record signing and the most expensive English footballer after sealing a move which could be worth up to £49m.The announcement came on Tuesday evening after Sterling had passed a medical and he will fly out to meet up with his new team-mates in Australia within the next 24 hours.“It’s a good feeling and this is really happy time for me and my family,” Sterling told the club’s official website.“I’m just glad it’s all over and done with and I can’t wait to get on the training field.“The thing that excites me the most is the world class squad we have and knowing we have a team that is capable of winning things year in, year out.“The more quality players that are around you, the more quality it brings out in you so I can’t wait to get started and play alongside them.”Sterling, who will wear the number seven shirt, was also grateful to his previous managers despite his controversial exit from Anfield.“It has been a long journey from QPR and I’d like to thank a few people who have helped me along the way,” he said.“I’d like to thank Rafa Benitez for taking me to Liverpool as a 15 year-old – that was a massive step for me and a new challenge.“Also to Kenny Dalglish for showing such faith in me and putting me in at such a young age.“I want to thank Brendan Rodgers for giving me a chance and an opportunity in the first team, giving me my full debut – against City funnily enough – and giving me a real chance to cement a place in the first team and show the world my talents.”