Current News

VEDA BOARD APPROVES $3.2 MILLION
IN PROJECT FINANCING ASSISTANCE
Montpelier, VT - Manufacturing, development, agricultural and travel and tourism projects totaling $6 million will receive $3.2 million in financing assistance from the Vermont Economic Development Authority (VEDA).
"We are very pleased to be able to offer financial assistance to these business acquisition and expansion projects," said Jo Bradley, VEDA's Chief Executive Officer.
Approved for financing by the VEDA Board of Directors are:

Vermont Public Television Launches Rutland Digital Channel
Vermont Public Television's Rutland digital TV channel has made its debut. VPT's digital channel 9 will begin service officially on Wednesday, June 1, from atop Grandpa Knob. The new channel -- the second digital channel in Vermont -- will serve Rutland and Addison counties and parts of Bennington and Windsor counties. In neighboring New York state, the signal will reach Warren and Washington counties and some of Saratoga and Essex counties.
VPT's channel 28, which transmits signals in the current analog format, will continue to operate for several years.
By federal mandate, all U.S. television stations are required to broadcast in digital. John King, VPT's president and CEO, says, "Going digital means Vermonters will continue to have their own statewide public television network, with all the PBS programs and local programs they treasure."

Professionals earn master's degree from Champlain College BURLINGTON, Vt.--Twelve area professionals were among the graduates of Champlain Colleges online masters program in Managing Innovation and Information Technology in May.

CHITTENDEN BANK APPOINTS NEW PRESIDENT
Burlington -- Chittenden Bank's Board of Directors announced
today, the appointment of John W. Kelly as President and CEO of Chittenden
Bank. As President and CEO, Mr. Kelly will oversee all aspects of
Chittenden Bank's retail, commercial and wealth management operations.
Mr. Kelly has been serving as interim president for Chittenden since
Lawrence W. DeShaw retired in April. Mr. Kelly assumes the role of
President and CEO immediately.
Mr. Kelly began his banking career in 1973 working for The Poughkeepsie
Savings Bank as the Assistant Vice President. In 1983, he joined Bank of
New England - Old Colony as the Executive Vice President. In December of
1990, Mr. Kelly joined Chittenden as the Executive Vice President in
charge of Commercial Banking. He served most recently as Chief Banking
Officer from January 2003 through the present.

VTFCU President/CEO Elected to Board of Director's of America's Credit Union Museum
BURLINGTON, VT-Joseph M. Finnigan, President/CEO of Vermont Federal Credit Union was recently named to the Board of Directors of Americas Credit Union Museum in Manchester, New Hampshire.

The mission of Americas Credit Union Museum is to commemorate the founders and the site of Americas first credit union in Manchester, New Hampshire in 1908 and to educate present and future generations on the benefits of cooperative self-help efforts to promote thrift and sensible use of credit.

Dress for Success from the Inside Out:

Vermont Woman-Owned Business Sells Lingerie Online
(May 25, 2005) Proud to be a Vermont-based business specifically targeting the needs of working women, A Little Lingerie Company, LLC opened its doors to the public this month at www.alittlelingeriecompany.com.

I am very pleased with the site and the response we have gotten to it so far, says A Little Lingerie Company President, Jennifer Michelle. People find it to be a very warm, user-friendly site. Since we are geared towards the needs of real women who go to work every day, our lingerie is selected to be lovely, but appropriate for under a suit or a sweater set.

IDX Systems wins Deane Davis Business of the Year Award
IDX Systems Corp of South Burlington was named winner of the Deane C Davis Outstanding Vermont Business Award during opening ceremonies May 25 for the Vermont Business & Industry Expo.

IDX was a finalist along with Dufresne-Henry of North Springfield and Pompanoosuc Mills of East Thetford. Chairman and co-founder Richard Tarrant accepted the award from Governor Douglas. The award, now in its 15th year, is presented by Vermont Business Magazine and the Vermont Chamber of Commerce
The Deane Davis Award is given to a long-time, Vermont-based company that has shown business success within the Vermont ethos of community, employment and environmental awareness.

IDX is a health care-related software developer with 2,400 employees worldwide. It added more than 300 employees just last year.

Green Mountain Power CEO says Utility Building To Power Vermonts future Vermont State Treasurer Jeb Spaulding Announces State Investment in Green Mountain Power Stock
COLCHESTER, Vt&. Christopher L. Dutton, President and Chief Executive Officer of Green Mountain Power (NYSE:GMP), Monday told shareholders that the Vermont utility is committed to modernizing its electric infrastructure to assist in the effort to make sure our customers are empowered to compete in the global economy.
Speaking at Green Mountain Powers annual meeting, Mr. Dutton said, We are investing in our utility plant so that the communities we serve have the opportunity to take advantage of one of the most important drivers of economic prosperity - safe and very reliable electric service.
Mr. Dutton said Green Mountain Power will spend $49 million in the next two years (2005-2006) rebuilding its infrastructure, principally its generation, transmission and distribution systems.

GBA wins national award
National American Institute of Architects Green Award for Waterfront Housing on Lake Street
Gossens Bachman Architects won a National Design Award in the AIA "Show Youre Green" Awards Program for Waterfront Housing, located on the new Lake Street Extension on the Burlington Waterfront. The American Institute of Architects has launched a major initiative to demonstrate excellence in affordable green housing design and a commitment to the Green Movement. Projects were invited from around the nation. Selected projects will be showcased to demonstrate the diverse ways in which green practices are being used in excellent affordable housing design. This will also demonstrate how regional, geographic, climatic, or cultural influences generate different responses to unique needs.

Summer Tourism Outlook Survey Shows Trend Toward Last Minute Travel
A survey of Vermont Chamber of Commerce travel and tourism members conducted in the past week shows that the majority of businesses are expecting a positive summer season with many last minute reservations.
A total of 70% of respondents are looking forward to a business season that is the same or better than last summer: 30% of respondents said business is looking better than last year, while 40% said that they expect the summer 2005 season to be on par with last summer.

Letter dated Monday May 16, 2005, from State Senator Matt Dunne (D-Windsor) to supporters announcing his intention to run for Congress.
Good Morning.
It is with great excitement that I write to share with you my decision to run for the United States Congress.
As many of you know, Sen. Jim Jeffords unexpectedly announced last month that he will not seek a third term in the U.S. Senate. Within hours, our lone Congressman Bernie Sanders announced he would seek Jeffords seat. The Vermont political landscape for 2006 is already starting to take shape.

SPECIALTY FILAMENTS, INC., ANNOUNCES CLOSING OF BURLINGTON, VERMONT
MANUFACTURING FACILITY
BURLINGTON, VT-The Board of Directors of Specialty Filaments, Inc. ("SFI")
announced Friday May 20 that SFI will close its Burlington, Vermont, manufacturing
plant. SFI anticipates that manufacturing operations will end at the
Burlington plant between July 30, 2005 and September 30, 2005. SFI will
increase manufacturing activity at its Middlebury, Vermont location,
continue to offer its full product line and expects no interruption in
customer service.
The Board's decision represents a change in the scope and direction of
SFI's manufacturing operations. This decision will better align SFI's
fixed-cost structure with its current and anticipated future sales levels.
This decision will enable SFI to be a stronger marketplace competitor and
will preserve good manufacturing jobs for Vermonters.