Current News

The International Brotherhood of Electrical Workers Local 300 and Central Vermont Public Service have agreed to a new five-year contract, the longest in company history, following interest-based negotiations.
The new contract, affecting 216 unionized employees, was approved this morning and takes effect at midnight tonight, when the existing contract expires.
The signing of a five-year agreement between the union and the company secures further benefits on both sides to expand upon, while strengthening the working relationship that presently exists, Local 300 Business Manager Jeff Wimette said. The union and the company have varied interests, of course, but we struck an agreement that is good for both sides, as well as our mutual customers.

Merchants Bancshares, Inc. (Nasdaq: MBVT) and its wholly-owned subsidiary bank, Merchants Bank (collectively, "Merchants"), have determined not to participate in the Capital Purchase Program (the "CPP") of the U.S. Treasury's Troubled Asset Relief Program (TARP). Under the CPP, the U.S. Treasury will make $250 billion of capital available to U.S. financial institutions through the purchase of preferred stock in such institutions. Although Merchants applied for, and subsequently received preliminary approval of its application, Merchants has decided not to participate in the program given the strength of its capital position.

Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) has extended its agreement with McDonald's USA, LLC to source, roast and package Newman's Own® Organics Blend coffee for more than 600 McDonald's restaurants in Massachusetts, Connecticut, Rhode Island, Vermont, New Hampshire, Maine and Albany, NY. McDonald's first introduced Newman's Own Organics coffee roasted by Green Mountain Coffee, a segment of GMCR, to its restaurants in New England and Albany, NY in October 2005.
Created exclusively for McDonald's, Newman's Own Organics Blend is a combination of light and medium roasts with a smooth body and clean finish. The blend is available in regular and decaffeinated and is served as both hot and iced coffee. McDonald's also offers Newman's Own Organics Blend in three iced coffee flavors in New England and Albany, NY: Hazelnut, Vanilla and Caramel.

Dr. Philip A. Brown named Vice President of Medical Affairs at CVMC
Berlin, Vt -Philip Brown, DO, who has served as medical director of the Emergency Department at Central Vermont Medical Center for fourteen years, was recently been named vice president of medical affairs.
"Physicians are under a tremendous amount of pressure to perform, see more patients, and do many other things. It's like the tail is wagging the dog," Dr. Brown commented. "I've been here long enough to know the heart and soul, and the quality of the physicians at CVMC. I want physicians to feel they have a real stake in continuing to make this a quality medical center."

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."

Montpelier, VT - Governor Douglas has announced that the initial damage assessment for the December 11th ice storm in southern Vermont has exceeded the required federal threshold of $1 million, allowing the Governor to apply for a Presidential Disaster Declaration.
"Our most recent ice storm was a disaster on many levels, impacting our infrastructure and commerce," said Governor Douglas. "The professionalism of our first responders and utility workers kept Vermonters safe, but much work remains to return to normalcy. I am pleased that FEMA promptly assessed our situation and determined we met the standard for federal assistance," he said.

Firms could create 238 jobs over next five years
MONTPELIER, Vt. - A start-up company; a long-time Vermont manufacturer; and a Canadian firm have been authorized to earn $1.7 million worth of incentives that could produce 238 new jobs over the next five years.
At its recent meeting, the Vermont Economic Progress Council gave initial approval for incentives totaling up to $795,139 for joint venture ASK-in TAG, LLC to potentially establish a facility in Essex to develop and manufacture radio frequency identification documents such as enhanced driver's licenses.
The Council also gave initial approval for incentives totaling up to $246,051 to persuade Quebec-based BEMAG Transformers to open a U.S. facility in St. Albans to manufacture dry-type transformers. Final approval of up to $692,854 was given to BioTek Instruments, Inc., a Vermont company that makes laboratory instrumentation and software, for a potential expansion in Winooski.

Governor Unveils New Name for the Food Stamp Program; Kicks Off Implementation of New Eligibility Criteria
30,000 Additional Households May be Eligible for "3Squares VT" Benefits
Berlin, VT- In a kick-off event to mark the roll-out of the Governor's initiative to expand program eligibility, Governor Jim Douglas, has unveiled a new name for Vermont's enahnced Food Stamp Program; beginning today, the program will be known as 3Squares VT.

Week Ending December 20, 2008
There were 1,540 new regular benefit claims for Unemployment Insurance last week, an increase of 315 from the week before. Altogether 12,384 new and continuing claims were filed, 975 more than a week ago and 3,678 more than a year earlier. In addition, the Vermont Department of Labor processed 2,641 claims for benefits under Emergency Unemployment Compensation, 2008, an increase of 61 from last week.
The Unemployment Weekly Report can be found at:
http://www.vtlmi.info/
Previously released Unemployment Weekly Reports and other UI reports can be found at:
http://www.vtlmi.info/lmipub.htm#uc

Chris Barbieri has been named Interim President of the Vermont Chamber of Commerce. Effective on January 1, 2009, he will succeed Duane Marsh, who left to become Executive Director of the Illinois Funeral Directors Association. Chris Barbieri will remain in this position until a full-time replacement is hired.
Barbieri stated, "I'm delighted to step in as Interim President. I look forward to working with our professional staff and volunteer leadership in meeting the many challenges facing Vermont's business community."
In 2003, Barbieri stepped down as President of the Vermont Chamber of Commerce to head up the Asia Division with direct supervision of the Vermont Chamber's international trade offices in Shanghai, China and Taipei, Taiwan. During his tenure as Director of the Asia Division, Barbieri worked to improve Vermont's visibility within China and Taiwan and positioned the state as a place to do business and visit.

Today announced that AT&T Mobility and Consumer Markets will add nearly 75 new jobs in Vermont as a result of its completed acquisition of the Vermont assets of Rural Cellular Communications, a provider of rural and suburban wireless communications services doing business in Vermont under the Unicel brand.
The two companies have a long-standing roaming relationship, and AT&T Mobility is committed to a smooth transition for its customers and employees. Part of this transition includes additional staffing and network support in the state. Candidates interested in a career with AT&T Mobility are invited to apply online. Positions include (but are not limited to) wireless sales and sales management.

Berlin, Vt -- The medical staff and administration of Central Vermont Medical Center distributed one 12 lb (approx. weight) turkey to every full time, part time and per diem employee of CVMC, in appreciation for their hard work throughout the year. "We appreciate the great care they provide our patients and residents, "said Dr. Cove, president of the medical staff.
Numerous employees chose to donate their turkeys to the Vermont Food Bank. "This generous gesture is typical of our staff," said Judy Tarr, CVMC president & CEO. "They have dedicated their lives to working in a caring profession."