Current News

Central Vermont Public Service today announced that it will purchase the assets and service territory of the Vermont Marble Power Division of Omya Inc. for $33.2 million.
Included in the sale are rights to serve about 890 customers in Proctor, including the Omya industrial facility in Florence, which will become CV s single-largest customer. Significantly, the sale also includes four hydroelectric facilities with a combined capacity of 18.1 megawatts.
This purchase will create economies of scale that will benefit all of our customers, and will lead to expansion of the generation output from the four Vermont Marble dams through increased investment, CVPS President Bob Young said. It maintains Vermont control over the plants, which produce clean, reliable energy, and expands CV s role as the operator of the largest fleet of renewable hydroelectric generators in the state.
Young said there would be significant benefits to the purchase:

Amartya Sen, sometimes known as the Mother Teresa of Economics and the conscience of the profession, will be the principal speaker for the 103rd Saint Michael s College commencement ceremonies on Thursday, May 13, 2010, in the Ross Sports Center on the suburban Burlington, Vermont, campus. Some 505 students will receive bachelor s degrees and 52 will receive master s degrees at the ceremonies.

A baccalaureate mass will be held on Wednesday, May 12, at 2 p.m. in the Chapel of Saint Michael the Archangel with the Most Rev. Salvatore R. Matano, Bishop of Burlington, as principal celebrant and homilist. A baccalaureate awards ceremony will be held on Wednesday, May 12, at 4 p.m. in the Ross Sports Center with Saint Michael s President John Neuhauser presiding.

The Company's capital stock, business and operations will not be affected by this name change. The Company's stockholders will not be required to exchange their Vermont Pure Holdings, Ltd. stock certificates for Crystal Rock Holdings, Inc. stock certificates. The Vermont Pure stock certificates will continue to represent shares of stock of the Company.

Agriculture Secretary Tom Vilsack today announced that USDA is seeking applications from farmers, agricultural producers and owners of rural small businesses to purchase renewable energy systems and make energy efficiency improvements. The funding is provided through USDA Rural Development’s Rural Energy for America Program (REAP), authorized by the Food, Conservation, and Energy Act of 2008 (Farm Bill).
The funding notice dated April 26, 2010 notes the deadline of June 30, 2010 for nation-wide applications, however, states have also been given funding for in-state competition. Applicants wishing to be considered for the in-state funding must submit applications no later than close of business (4:30 P.M.), Friday, May 21, 2010. A second round of applications will be accepted for in-state funding and must be received by 4:30 P.M., Friday, June 4, 2010.

Facing escalating deficits, while borrowing money from the federal government since January, Governor Jim Douglas, Speaker Shap Smith and Senate President Pro Tem Peter Shumlin today announced they have reached an agreement on reforms to shore up the unemployment insurance (UI) trust fund. The agreed upon reforms are expected bring the fund in to the black by 2015 reducing expected borrowing from the federal government and accompanying interest payments from the state s general fund and limiting the amount of time that Vermont employers will forgo a valuable federal tax credit. The compromise will also set the fund up for long-term sustainability.

Average retail gasoline prices in Vermont have fallen 0.5 cents per gallon in the past week, averaging $2.89/g yesterday. This compares with the national average that has increased 4.1 cents per gallon in the last week to $2.90/g, according to gasoline price website VermontGasPrices.com.
Including the change in gas prices in Vermont during the past week, prices yesterday were 84.6 cents per gallon higher than the same day one year ago and are 5.9 cents per gallon higher than a month ago. The national average has increased 7.9 cents per gallon during the last month and stands 84.3 cents per gallon higher than this day a year ago.
Source: VermontGasPrices.com 5.3.2010

The Vermont Agency of Transportation opened Route 108 through Smugglers' Notch at 7:44 am this morning. With winter now hopefully behind us, VTrans anticipates the road will remain open until sometime in the fall when Mother Nature once again dictates its closure.
VTrans. 5.3.2010

Green Mountain Coffee Roasters, Inc (NASDAQ: GMCR) (“GMCR”) today announced that Pebbles Acquisition Sub, Inc. (“Purchaser”), a wholly owned subsidiary of GMCR, has extended its previously announced $35.00 per share cash tender offer to purchase all outstanding shares of common stock of Diedrich Coffee, Inc. (NASDAQ: DDRX) (“Diedrich Coffee”). The tender offer will now expire at midnight, New York City time, on Monday, May 10, 2010, unless further extended. The tender offer previously was scheduled to expire at midnight, New York City time, on Monday, May 3, 2010. All other terms and conditions of the tender offer remain unchanged.

The Vermont Agency of Transportation (VTrans) and the New York State Department of Transportation (NYSDOT) will host a public informational meeting regarding the status of the Lake Champlain Bridge crossing, including an update on the design of the new bridge, removal of demolition debris, commemoration of the old bridge and operation of the temporary ferry service. The meeting will be held at 6:30 p.m. on Tuesday, May 11, at Addison Central School located at 121 Vermont Route 17W in Addison, Vermont, west of its intersection with Route 22A.

The Vermont Historical Society's award-winning Vermont History Museum and the annual Vermont History Expo have been recognized as 2010 Editors' Choices in Yankee Magazine's Travel Guide to New England. This designation is awarded by Yankee's editors and contributors, who name select restaurants, lodgings, and attractions in New England to the exclusive list.
"Yankee's editors and our trusted legion of travel writers select our Editors' Choice winners," says Yankee editor Mel Allen. "From their own experiences and extensive travel, they research and find the most deserving establishments in New England. Recipients range from the rustic to the refined, but all are noteworthy and memorable destinations."

US Secretary of Education Arne Duncan today announced that Vermont will receive $8.5 million to turn around its persistently lowest achieving schools through the School Improvement Grants (SIG) program. These funds are part of the $3.5 billion that will be made available to states this spring from money set aside in the 2009 budget and the American Recovery and Reinvestment Act.
"When a school continues to perform in the bottom five percent of the state and isn't showing signs of growth or has graduation rates below 60 percent, something dramatic needs to be done," said Duncan. "Turning around our worst performing schools is difficult for everyone but it is critical that we show the courage to do the right thing by kids."

Merchants Bancshares, Inc (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of $3.83 million or diluted earnings per share of $0.62 for the three months ended March 31, 2010. This compares with net income of $2.91 million or diluted earnings per share of $0.48 for the same period in 2009. Merchants previously announced the declaration of a dividend of 28 cents per share, payable May 13, 2010, to shareholders of record as of April 29, 2010.