Current News

WASHINGTON, D.C. Vermont's economic recovery will depend on small business. That message is driven home in the newly updated Vermont Small Business Profile released today by the Office of Advocacy of the U.S. Small Business Administration. The most recent data show that the state has 18,937 small employers, and they employ 63.5% of the state s workforce, the third highest percentage in the country.
Vermont depends on small business for jobs and economic growth, said Shawne McGibbon, Acting Chief Counsel for Advocacy. During this time of financial stress and economic instability, policymakers need to remember that the state s small businesses provide the economic base for its families and communities.
To further highlight the importance of small business, the updated profile notes that small businesses created 51.7% of the state's net new jobs from 2004 to 2005 (latest available data).

Layoffs - Budget Cuts - Downsizing. Every day there seems to be another news story covering the fallout from the current economic downturn. Today's economy has created an increasingly challenging environment for human resource administrators. If you are the person responsible for the HR functions of your organization, you may know that there are federal and state employment laws that can help you maneuver through these difficult times - but how familiar are you with them?
The Workforce Development Center at Champlain College, in collaboration with HRSentry, is offering a series of online workshops that can answer your questions and give you the skills needed to successfully handle the human resources issues you face every day.
Workshops are delivered 100% online, giving you access to the resources and knowledge you need 24/7, on a schedule that works for you.

Nominations are now being accepted for the 19th Annual Deane C. Davis Outstanding Business of the Year Award, co-sponsored by the Vermont Chamber of Commerce and Vermont Business Magazine. The winner will be unveiled during the May 20, 2009, opening ceremony of the region s largest business-to-business trade show, the annual Vermont Chamber of Commerce Business and Industry EXPO. Three award finalists will be profiled in the May issue of Vermont Business Magazine.

The application is available online at www.vermontbiz.com/dcd, or on the Vermont Chamber Business EXPO website (www.vtexpo.com). The application deadline for the Deane C. Davis Award is March 13, 2009.

Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of $11.92 million or diluted earnings per share of $1.96 for the year ended December 31, 2008. This compares with net income of $10.86 million or diluted earnings per share of $1.76 from the previous year. Merchants earned $3.06 million or diluted earnings per share of $0.51 for the quarter ended December 31, 2008, compared to net income of $2.92 million or diluted earnings per share of $0.48 for the same quarter of the previous year. Merchants previously announced the declaration of a dividend of 28 cents per share, payable February 19, 2009, to shareholders of record as of February 5, 2009.

Colchester--MyWebGrocer has announced that Peapod, serving 14 major US markets, is joining the MyWebGrocer Ad Network. With the addition of Peapod, the majority of retail Grocery Ecommerce transactions occur within the MyWebGrocer Advertising Network.
The addition of Peapod, Peapod by Stop&Shop, and Peapod by Giant to the ninety other leading retailers on the network means that the network now has significant store density in the key New York, Chicago, Washington DC, and Boston DMA s.
The addition of Peapod, who has set the bar in e-commerce, is a significant milestone in our Ad Network s rapid growth explains Rich Tarrant, CEO of MyWebGrocer. In less than a year we have demonstrated the power for our network to drive sales at the digital shelf for both retailers and CPG manufacturers. If a brand manager wants to communicate with online grocery shoppers, then the MyWebGrocer advertising network is the place to find them with credit card in hand.

Middlebury--Frog Hollow: The Vermont State Craft Center is suspending operations at its Middlebury location on January 31st. The organization, hard hit by the economic downturn, will suspend operations in Middlebury and focus on its Burlington location and web sales as it takes a strategic pause to determine its next steps and strategy moving forward.
Frog Hollow was founded in 1971, and received its designation as the Vermont State Craft Center shortly thereafter. This honorary title, bestowed by the state of Vermont, established the first state craft center in the United States. For 38 years, the non-profit organization has operated as many as three craft galleries as well as providing arts education and enrichment programs throughout the state of Vermont. A model for craft centers in other parts of the U.S., Frog Hollow, which features Vermont artists and Vermont companies exclusively, currently represents nearly 300 artists from across the state.

Rutland--The Vermont Specialty Food Association welcomes the following businesses as members of the organization:
Aqua Vitea LLC
Aqua Vitea is a kombucha microbrewery located in central Vermont.
Jeff Weaber
8 Shard Villa Rd.
Salisbury, VT 05769
802-352-1049
www.aquavitea.com
Fat Toad Farm
Fat Toad Farm is a small family-run goat dairy in Brookfield, Vermont. They make traditional goats milk caramel (also known as cajeta), and plain and flavored fresh farmstead cheeses.
Judith Irving
Brookfield, VT
802-279-0098
www.fattoadfarm.com
It's Arthur's Fault
We create and produce sauces and marinades, both sweet and savory with a range from "Expresso Hot Fudge" to "Garlic Caper Marinade". Cooking classes are also taught by Arthur in our commercially licensed kitchen.
Arthur Shelmandine
Jericho, VT

Montpelier--There were 1,306 new regular benefit claims for Unemployment Insurance for the week ending January 24th, a decrease of 338 from the week before. Altogether 15,905 new and continuing claims were filed, 505 less than a week ago and 5,551 more than a year earlier. In addition, the Department processed 1,808 claims for benefits under Emergency Unemployment Compensation, 2008, a decrease of 234 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

Burlington--Due to popular interest in the Fall Professional Certificate in Leadership & Management program, The Vermont Business Center has added a Spring Professional Certificate program starting March 13th. The Vermont Business Center's Leadership and Management Professional Certificate Program is designed to provide participants with a management "toolkit," including key concepts, vocabulary and analytical tools essential for effective management and strategic decision making.
For those who work in Manufacturing, Information Technology, Heathcare, Telecommunications, or Environmental Technology, The Vermont Deptaremtn of Economic Development offers a 50% discount toward a University of Vermont Leadership & Management Certificate, and 50% toward individual clas ses.
This certificate program is designed for participants to attend 9 classes over a 9 week period.
As a participant you will:

Burlington--Champlain College s innovative international initiatives have earned the college a prestigious award from the Institute of International Education (IIE). The college will receive the 2009 IIE Andrew Heiskell Award for Innovation in International Education on March 19 at a ceremony at the United Nations in New York. The awards, now in their eighth year, were established to promote and honor outstanding initiatives in international higher education among the members of IIE s association of more than 1,000 institutions.
By recognizing excellence and innovation, the Institute hopes to promote a comprehensive range of efforts to make college campuses more international, explained IIE President Dr. Allan E. Goodman. The award-winning programs represent the best practices in internationalization. We hope these will encourage and inspire other campuses to better prepare their students to be active global citizens.

Montpelier Statewide assessment results for Fall 2008 were released by the Vermont Department of Education today. The results are from the New England Common Assessment Program (NECAP) exams, given to Vermont public school students in grades three through eight and 11. Students were tested in reading and mathematics in all seven grades, and in writing at grades five, eight and 11 only.
The following table illustrates the percent of Vermont students proficient in the content area by grade span:

Reading

Math

Writing

Elementary School

71%

65%

55%

High School

71%

35%

43%

While the exact number of lay offs at IBM s Essex plant was not known at press time, the total number was expected to be under 500. If it were more than 499, IBM would have been required by federal law to notify state officials before the action, which it did not. According to Vermont Department of Labor Commissioner Pat Moulton Powden, she was not informed ahead of time of the layoffs. She confirmed that IBM had laid off less then 500 of its roughly 5,200 employees Tuesday, January 27.