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Ethan Allen reports sales, net income down

Fri, 01/29/2010 - 5:51am -- tim

Ethan Allen Interiors Inc, a manufacturer and retailer of high-end furniture, has reported a fall in sales and a loss in operating results for the three and six months ended December 31, 2009. Some of the loss is attributable to restructuring, including the closing of the manufacturing operations in its Beecher Falls, Vermont, plant, which resulted in the loss of 260 employees last summer. The Orleans plant was not affected.

ARC Mechanical Contractors acquires Montshire Mechanical

Thu, 01/28/2010 - 12:49pm -- tim

Related Company: ARC Mechanical ContractorsARC Mechanical Contractors of Bradford, Vermont, announced today the acquisition of Montshire Mechanical Services Inc in Lebanon, NH. For 20 years Montshire Mechanical has provided refrigeration and air-conditioning service to the Upper Valley. After years of dedicated hard work, owners Skip Spaulding and Joe Lukash are ready to slow down and enjoy the fruits of their labor. They are confident that ARC will continue their commitment to quality refrigeration and air conditioning service.

Vermont utility board votes against renewing Vermont Yankee license

Thu, 01/28/2010 - 12:42pm -- tim

Related Company: Washington Electric Cooperative Inc The Board of Directors of Washington Electric Cooperative (WEC) has called on the Vermont Legislature to vote against authorizing continued operation of the Vermont Yankee nuclear power plant after its current operating license expires in 2012. They further urged legislative leaders to vote on the matter early in this legislative session.

FairPoint names Sabina Haskell, former ANR deputy, as Vermont PR chief

Thu, 01/28/2010 - 12:38pm -- tim

Related Company: FairPoint CommunicationsSabina Haskell, a veteran Vermont communicator, will join FairPoint’s Corporate Communications department February 8, 2010, as PR Manager for Vermont.  The position has been vacant since November 2009, when Beth Fastiggi was promoted to VP of governmental relations for Vermont. Haskell has an extensive communications background having served as an editor at several Vermont newspapers, a  communications director for a state government agency and is currently the deputy secretary of the Vermont Agency of Natural Resources.

Merchants Bancshares announces increase in year-end results

Thu, 01/28/2010 - 12:24pm -- tim

Related Company: Merchants BankMerchants Trust CoMerchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of $12.48 million or diluted earnings per share of $2.04 for the year ended December 31, 2009. This compares with net income of $11.92 million or diluted earnings per share of $1.96 for the previous year.

Sale of $52 million in Vermont bonds attracts record number of bids, low rates

Thu, 01/28/2010 - 12:02pm -- tim

Vermont State Treasurer Jeb Spaulding announced today that Vermont successfully sold $52 million in general obligation bonds, in a competitive auction that marked the State’s first-ever sale of “Build America Bonds.” Yesterday’s auction resulted in both the largest number of bids received and the lowest interest cost the State has incurred on a bond sale in decades.

Vermont wins $50.5 million for passenger rail

Thu, 01/28/2010 - 11:50am -- tim

US Senators Patrick Leahy (D-VT) and Bernie Sanders (I-VT) and Representative Peter Welch (D-VT) today hailed a major announcement that Vermont will receive $50 million for major rail improvements along Amtrak’s Vermonter line. The funding will help pay for construction of track, roadbed and bridge improvements along 190 miles of railroad used by Amtrak Vermonter service between St. Albans, Vt., and Springfield, Mass., according to the U.S. Department of Transportation. The upgrade will reduce trip times and improve reliability.

Weekly unemployment claims continue decline

Thu, 01/28/2010 - 11:29am -- tim

Weekly unemployment claims fell for the fourth consecutive week. This follows an end-of-the-year spike in new claims. It comes on the heels of a rise in the Vermont unemployment rate of 6.9 percent in December 2009, up from 6.4 percent in November. It is not clear at this point whether a drop in claims will result in a drop in the January 2010 unemployment rate, which will not be released until March. Year-to-year claims are also down. For the week of January 23, 2010, there were 1,022 new regular benefit claims for Unemployment Insurance last week, a decrease of 244 from the week before.

Green Mountain Coffee: Revenues up, net income down

Thu, 01/28/2010 - 11:09am -- tim

Related Company: Green Mountain Coffee Roasters, IncGreen Mountain Coffee Roasters, Inc., (NASDAQ: GMCR) today announced its fiscal 2010 first quarter results for the thirteen weeks ended December 26, 2009, reporting strong growth. Net sales for the first quarter of fiscal 2010 were up 77 percent to $349.4 million as compared to $197.0 million reported in the first quarter of fiscal 2009.

New Champlain ferry operation imminent

Wed, 01/27/2010 - 12:24pm -- tim

New York Governor David Paterson traveled to Crown Point, NY, today and was expected to announce that a new ferry operating at the location of the former Champlain Bridge was expected to begin operation by the end of January, in other words, by Sunday at the latest. Full, regular service is expected first thing Monday. This has been a long-time coming for those commuters using circuitous travel routes to reach destinations to and from Vermont, and for those businesses on both sides of Lake Champlain who count on those commuters. The free service will run around the clock and every day.

VEDA committed $21.7 million in loans to Vermont businesses and farms in 2009

Wed, 01/27/2010 - 12:16pm -- tim

With the help of federal stimulus funds available through the American Recovery and Reinvestment Act (ARRA), the Vermont Economic Development Authority (VEDA) has committed $21.7 million in specially interest rate-subsidized loans to Vermont businesses and farms for the period ending December 31, 2009. On the commercial side, the stimulus financing leveraged an additional $41.3 million in private financing to support projects totaling $55.8 million.

Governor calls for halt in process to relicense Vermont Yankee

Wed, 01/27/2010 - 12:13pm -- tim

In a profound turnaround in policy, Governor Douglas announced late this afternoon that he will no longer urge the Legislature to vote on the Vermont Yankee relicensing this session, he is also at least temporarily pulling support for the plant's owner, Entergy, to spin off the plant into a new corporation called Enexus, and he says that top management at the plant should be replaced because he has lost trust in them. He said that Entergy must not only find and fix the tritium leak at the plant, but must be transparent in its processes.