Current News

by tim

Robert F. Cooper, owner and CEO of Burlington Foodservice Company, Colchester, Vermont, and Mario Bonacorsi, President of Bonacorsi & Sons, Inc, Barre, Vermont, announced the signing of a Letter of Intent for Burlington Foodservice Company to acquire the stock of Bonacorsi and Sons, Inc.
Burlington Foodservice Company, a Vermont based company, is the largest, independent, broadline foodservice distribution company in Northern New England with projected sales in 2002 of $47 million. Bonacorsi & Sons anticipates sales of $8.5 million in 2002. With this acquisition, Burlington Foodservice Company is projecting sales of $61 million for 2003.

by tim

The Main Street Landing Company, located in Burlington, VT, is preventing pollution at a profit. And for their efforts, the company has won a national 2001 ENERGY STAR® for Small Business Award, presented by the U.S. Environmental Protection Agency (EPA). The ENERGY STAR for Small Business Awards recognize small businesses that effectively reduce their operating costs by increasing the energy efficiency of their business. EPA regional representatives are coordinating local awards ceremonies.

by tim

Northeast Cooperatives’ Board of Directors announced that it is recommending to the membership that Northeast Cooperatives be combined with United Natural Foods, Inc. (UNFI) through a merger. The agreement is subject to approval of Northeast Cooperative’s members. Terms of the merger agreement are private.

by tim

Thinking about changing careers? Interested in learning more about the health care field? If so, the Champlain Valley Health Careers Showcase has just the information you need to get started.
Scheduled for Wednesday, Nov. 13, from 1 to 7 p.m. at the Champlain Mill in Winooski, this free event will offer information about dozens of health occupations, many of which are currently experiencing staffing shortages. Employers, educators, health care workers, and representatives of professional organizations will be on hand to discuss the requirements for entering various health care careers and the rewards and challenges of working in this growing field.

by tim

Vermont farmers have always been eager to try new crops and ways to
produce them. The U.S. Department of Agriculture's Sustainable Agriculture
Research and Education program (SARE), wants to help by providing funds to
assist with on-farm experimentation by farmers.
This year, there are two groups of grants available from SARE that are
aimed at helping farmers explore new ideas. The Farmer/Grower Grant
program awards funds directly to producers to test new crops, practices,
and systems in on-site experiments and to share their results with other
farmers. Since 1993, the Northeast SARE has awarded 58 grants to Vermont
farmers, totaling more than $245,000 over the years. Capped at $10,000,
the grants average $5,200.
New for 2003, Partnership Grants apply to on-farm research and
demonstration projects developed by agricultural professionals who work

by tim

Green Mountain
Power Corporation (NYSE: GMP) announced today that it has commenced a
"Dutch Auction" self tender offer to purchase up to 800,000, or 14%, of
its common shares (including the associated common stock purchase rights).
Under the terms of the offer, Green Mountain Power shareholders may offer
to sell to Green Mountain Power all or a portion of the shares they own
within a price range of $17.00 to $21.00 per share in cash. The offer
begins today and will expire at 12:00 midnight, New York City time, on
November 19, 2002, unless the offer is extended by Green Mountain Power.
As of October 17, 2002, Green Mountain Power had 5,728,340 shares of
common stock outstanding. The closing price for Green Mountain Power
common stock on the NYSE on October 17, 2002, the last full trading day on
the NYSE prior to this announcement of the offer, was $16.17.

by tim

Banknorth Group Inc. (NASDAQ: BKNG)
announced record quarterly net income of $76.9 million, or 51 cents
per diluted share, for the three months ended September 30, 2002, an
increase of 24% from net income of $62.2 million, or 45 cents per diluted
share, for the same quarter a year ago. Exclusive of special charges,
third quarter earnings were $78.3 million, or 52 cents per diluted share,
up 26 % from $62.2 million, or 45 cents per diluted per share, for the
same quarter a year ago.
For the first nine months of 2002, net income was $221.5 million, or $1.48
per diluted share, an increase of 25% from $177.2 million, or $1.27 per
diluted share, for the first nine months of 2001. Exclusive of special
charges, income for the first nine months of the year was $228.9 million,
or $1.53 per diluted share, up 26% from $181.1 million, or $1.30 per
diluted share, for the first three quarters of 2001.

by tim

VERMONT CONVENTION BUREAU TO HOST TELEPHONE SALES BLITZ

by tim

Three new trustees have joined the Vermont Law
School Board of Trustees. They are Edwin I. Colodny, Of Counsel to the
law firm of Paul, Hastings, Janofsky & Walker, Washington, DC; Perez
Ehrich, principal, Hemmings Market & Tech Guides, Bennington, VT; and
Thomas Jorling, vice president for environmental affairs, International
Paper Corporation, Stamford, CT.
Dean L. Kinvin Wroth comments, "The board of trustees has been
strengthened by the addition of these highly competent and experienced
individuals."
Edwin Colodny has recently been appointed interim chief executive
officer of Fletcher Allen Health Care, after having served for a year as
interim president of the University of Vermont. Previously, he served
as chairman of the board of Comsat Corporation, a leading provider of
global satellite and digital networking services, and as president,

by tim

Barbara Snelling has been selected as the Vermont Chamber of Commerce Citizen of the Year. Mark and Senator Diane Snelling will present the prestigious award at the 2002 Citizen of the Year Banquet, which will take place Wednesday, October 23 at the Radisson Hotel in Burlington. Vermont Chamber President Chris Barbieri will lead a lively evening of roasts and toasts, with speakers Helen Riehle, Fred Hackett, Sheldon Prentice, Charlie Kittredge, and Rabbi Max Wall.
In the crowded field of awards given to Vermont community members, the Vermont Chamber of Commerce Citizen of the Year award has become one of the most prestigious. Presented annually for nearly four decades, the Citizen of the Year Award honors the person who contributes to Vermont communities through service, self sacrifice, and volunteerism.

by tim

IDX Systems Corporation (NASDAQ:IDXC) announced that effective January 1, 2003, James H. Crook, Jr will become Chief Executive Officer. Mr. Crook joined IDX in 1981and has been President and Chief Operating Officer of the Company since 1999. He will retain the title of President.
Current Chief Executive Officer Richard E. Tarrant will be named Chairman of the Board and Robert H. Hoehl, current Chairman, will become Vice Chairman. Mr. Tarrant and Mr. Hoehl founded IDX in 1969.
As CEO, Mr. Crook will work closely with Mr. Tarrant on strategy development and will assume full management responsibility for the company, including delivering on the IDX core values of customer success, employee opportunity, growth, and profitability.

by tim

Calling all Vermont businesses! The annual Vermont Chamber of Commerce Business and Industry Exposition (EXPO) is now accepting proposals for seminars, workshops, or panel presentations. The nineteenth annual EXPO is slated for May 21 and 22 2003, once again at the Sheraton Burlington Hotel and Conference Center.
In response to business community requests, the EXPO Special Events Committee is pleased to offer Vermont businesses the opportunity to design a seminar or workshop, sharing their expertise with business professionals throughout the region. Businesses may propose a single topic presentation, or propose to organize and moderate a panel discussion on a particular topic. Presentations are to be one hour in length.
Proposals must fall into the following broad theme categories:

●Excellence: May include quality, best practices, workforce development and training programs, and corporate responsibility.