Current News

Merchants Bancshares, Inc. (Nasdaq: MBVT), the parent company of Merchants Bank, today announced net income of $2.91 million or diluted earnings per share of $0.48 for the quarter ended March 31, 2009. This compares with net income of $2.66 million or diluted earnings per share of $0.44 for the first quarter of 2008. Merchants previously announced the declaration of a dividend of 28 cents per share, payable May 14, 2009, to shareholders of record as of April 30, 2009.
The return on average assets was 0.87% for the first quarter of 2009, compared to 0.88% for the first quarter of 2008. The return on average equity was 14.50% for the first quarter of this year, compared to 13.83% for the same period in 2008.

Green Mountain Coffee Roasters, Inc., (NASDAQ: GMCR) today announced its fiscal 2009 second quarter results for the thirteen weeks ended March 28, 2009, reporting very strong top and bottom line growth.
Net sales for the second quarter of fiscal 2009 totaled $193.4 million as compared to $120.9 million reported in the second quarter of fiscal 2008, representing an increase of 60% over the same quarter last year.
Net income for the second quarter of fiscal 2009 increased 118% to $13.0 million or $0.50 per diluted share, from $6.0 million or $0.23 per diluted share in the second quarter of fiscal 2008.
During fiscal 2009 s second quarter, 432 million K-Cup® portion packs were shipped system-wide by all Keurig licensed roasters, up 62% over the year-ago quarter. Supporting continued growth in K-Cup demand, during the second quarter of fiscal 2009, 479,000 Keurig brewers were shipped, up 148% over the same quarter in the prior year.

Associates in Pediatrics, a Central Vermont Medical Group, cut the ribbon at their spacious new offices at 244 Granger Road in Berlin, on Wednesday April 29th. The new 8200 square foot facility provides space that is more efficient and up-to-date than the practice s previous offices.
Pediatrics staff includes Deborah Jerard, MD, Margaret Lindsay, MD, Emily Urquhart-Scott, MD and Linda Burger, PNP.

Week Ending April 25, 2009. There were 1,501 new regular benefit claims for Unemployment Insurance last week, a decrease of 97 from the week before. Altogether 18,430 new and continuing claims were filed, 561 less than a week ago and 7,397 more than a year earlier. The Department also processed 2,122 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 52 more than a week ago. In addition, there were 1,299 Second Tier claims for benefits processed under the EUC08 program which is an increase of 39 from the week before. 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.

The Vermont Farm Viability Program announced today $40,000 in grant awards to meat processing facilities in Troy, Randolph, Barre and Enosburg. The grants are the first round of a new funding opportunity for agriculture-related businesses, established to develop and invest in agricultural infrastructure and to improve the viability of agriculture-related businesses. Two subsequent rounds of grant funding will be announced later this year and in 2010. Eleven processors with combined requests of $183,600 applied for $40,000 of available funding. The grant funds are supplied by a private foundation.

The National Ski Areas Association announced on Tuesday that Sugarbush Resort has won the Association s top honor for guest service. The Best Overall Guest Service Program award is given to the resort with the best guest service program in the country. Resorts are categorized by visitation numbers. The prize is in recognition of Sugarbush s SugarTube initiative, an interactive video sharing function that it unveiled on sugarbush.com this past season.
Said Andy Hawk, the marketing director of the Professional Ski Instructors of America and a judge for this year s competition, The SugarTube program not only allows for guests to share their experiences with friends and family, but it also provides a natural extension of on-mountain programs such as ski and snowboard lessons. SugarTube also gives parents the chance to see first-hand the experience their kids had on the hill. SugarTube is guest centered all the way!

Two new start-ups, as well as a UVM technology license agreement, were announced Tuesday at the Center for Emerging Technologies' 4th annual Invention to Venture (I2V) Conference at UVM s Davis Center.
Governor Douglas was joined by Lieutenant Governor Brian Dubie to announce the new Technology License between UVM and Swanton's Leader Evaporator to manufacture and distribute a unique Maple Spout Adapter. The Maple Spout Adapter was developed by Timothy Perkins, Director of UVM s Proctor Maple Research Center.

The New England Culinary Institute s Board of Directors announced today that it has approved recommendations proposed by the school s administration to unify campuses to its Montpelier location, while at the same time expand both the scope of NECI s educational offerings and the options for delivery of those programs to students.
Moving the school s residential students into a single campus location (the school currently has operations in both Montpelier and at The Essex, formerly the Inn at Essex in Essex ) will allow NECI to achieve both the financial benefits of unification as well as related educational, creative and operational synergies, school officials said.

In light of the current threat of swine influenza in Mexico and certain US states, the Vermont Chamber Hospitality Council is urging Vermont s tourism industry to remain alert to the symptoms of the flu, while realizing that health officials are taking all necessary steps to help treat those individuals and contain the disease before it spreads. Of the 64 cases identified nationwide, there have been no deaths reported from this influenza strain in Vermont or the US.
Of course, Vermont s businesses should ensure a high level of sanitation at all times, and implement strategies and precautionary measures to protect the health and safety of employees and guests.

US Rep. Peter Welch announced Tuesday he will seek an amendment to the Credit Cardholder s Bill of Rights that would cap credit card interest rates at 18 percent. Welch announced the amendment at a Capitol Hill press conference Tuesday morning alongside two cosponsors, Rep. Maurice Hinchey (D-NY) and Rep. John Tierney (D-MA). The Credit Cardholder s Bill of Rights is expected to be voted on in the House of Representatives on Thursday.
The Welch-Hinchey amendment would impose an 18 percent interest rate cap on credit cards issued by for-profit financial institutions similar to the 15 percent cap that currently exists at every federal credit union in the country. The amendment has a mechanism comparable to one used by the National Credit Union Administration for credit unions that allows the Federal Reserve to authorize higher interest rates if it determines that the rate cap would threaten the safety and soundness of card-issuing institutions.

University of Vermont College of Medicine Dean Frederick C. Morin, M.D., has announced that following a national search, William B. Jeffries, Ph.D., has accepted the position of Senior Associate Dean for Education. Dr. Jeffries will assume this role on August 1, 2009, and will relocate to Vermont from Omaha, Nebraska, where he is the Associate Dean for Medical Education and Director of Academic Computing at Creighton University School of Medicine.

The Vermont Economic Development Authority (VEDA) has approved $8 million in financing to support economic development projects totaling $20 million throughout the state.
In this round of financing approvals, VEDA is pleased to help a number of Vermont businesses in their growth plans through direct lending, or by insuring working capital loans provided by local commercial lenders, said the Authority s Chief Executive Officer Jo Bradley. Also, several agricultural, educational, small business and energy conservation projects are receiving VEDA financing.
Approved for financing are: