MONTPELIER \u2013 The Vermont legislature called an emergency session of the General Assembly on Tuesday following the announcement by big box toy retailer Toys \u201cR\u201d Us that it was filing for bankruptcy protection from its creditors in the U.S. The House and Senate rushed through a bill to block the Toys \u201cR\u201d Us filing in Vermont, citing “\u2026the needs of the state and the well-being of Vermonters are not just fun and games.”<\/p>\n
The legislature snapped into action following a concern that was expressed by a flatlander, Angelo P. Stadovitch, who reported what had happened in New York City after the company abruptly closed its flagship store in Times Square in 2015. Stadovitch moved from the Big Apple to Essex Junction last year.<\/p>\n
\u201cAfter Toys \u201cR\u201d Us left the city,” he said, \u201cthings just went right into a dumpster. First, New York couldn\u2019t pay its neon bill.\u00a0 Then people from the burbs stopped bringing their kids downtown to hang out.\u00a0Within three months<\/span>, Times Square looked like the Mary Celeste. We can\u2019t let that sort of thing happen in Burlington!\u201d<\/p>\n The reaction by Montpelier legislators to this testimonial, was mixed. The Stadovitch report was initially met with the skepticism and suspicion usually reserved for any out-of-state news. \u201cMore flatlander exaggeration,\u201d one representative from the Northeast Kingdom was heard to sniff. \u201cAlarmist poppycock,\u201d said another from southern Vermont. The emergency session was called only after state representative Wilma Barnstable (I), a bookkeeper from Chittenden County, pointed out that the $5 billion in liabilities that Toys “R” Us was struggling to get out from under was \u201c\u2026not that far off Vermont\u2019s overall long-term debt load. So this matter is not about small potatoes and we need to take it seriously!\u201d<\/p>\n The vote in the legislature was close, however. Opponents of the bill expressed concern that, if pressed too hard, the Wayne, New Jersey, based company might \u201c\u2026just pack up its toys and leave Vermont for good.\u201d<\/p>\n The legislation was passed by only four votes after a heated debate in the State House that lasted into the small hours of\u00a0Wednesday<\/span>\u00a0morning. Ultimately, an impassioned speech by Junior House Majority Deputy-Leader\u200e Arlo Greenbriar carried the day.\u00a0 \u201cVermont has been hovering on the verge of insolvency for years,\u201d he said, \u201cand we couldn\u2019t file for bankruptcy! Why should they be allowed to get away with it?\u201d<\/p>\n Image Credits: Mike Mozart<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"