Current News

January 23, 2008
Merchants Bancshares, Inc Announces 2007 Results

(January 22, 2008)--Union Bank will add Lura Jacques as Assistant Vice President and Trust Officer of the western service area and Lois Pigeon as Branch Manager to its new St. Albans Office.

Lura was a Wealth Advisor for TD Banknorths St. Albans office for the past nineteen years. She currently serves as Treasurer of the St. Albans Rotary Expo and Homeshow and as secretary of the St. Albans Rotary. She is also a board Member with Franklin County Court Diversion. Her educational background includes graduating from Champlain College, New England School of Banking, and earning a Certified Trust and Financial Advisor designation from Cannon Financial Institute.

Lois Pigeon is a long time active resident of St. Albans, where she has been involved with Vermont National Bank, which became Charter One and then Citizens. She also owns a small business with her husband.

Vermont Department of Labor is reporting the seasonally adjusted employment rate for December 2007 at 4 percent, up one tenth of a point from last month and two tenths of a point from last year. There was no difference from November 2007 values. For the December 2007 month the US as a whole had an unemployment rate of 5 percent, up three tenths of a point from November.

Seasonally adjusted job levels grew by 400 or 0.1% from November to December, and by 800 or 0.3% since December of 2006. Heath Care and Social Assistance, and Leisure and Hospitality provide 200 extra jobs each in December, while the construction and local government lose 200 each. The VDL is reporting that despite the surge in unemployment rates, Vermonts unemployment levels are considerably low when compared to national averages.

Representative Cola Hudson, R-Lyndon, died January 20 of congestive heart failure. A farmer and janitor, he first served in the Vermont House in 1973. He served in the State House up to the week before his death. He was 81.
Below are comments from the governor and Speaker of the House.
Official Statement of Governor Douglas on the Death of Representative Cola Hudson
I was saddened to hear of the passing of my friend, Representative Cola Hudson of Lyndon. His family, friends and community are in our thoughts and prayers.

BURLINGTON, Vt. John Cohn, PhD, chief scientist of design automation in the IBM Systems and Technology Group, has been working with students and faculty in the Emergent Media Center at Champlain College this winter.

Cohn, an IBM Fellow and Vice President for the Americas for the IBM Academy, and five Champlain College game development students have been creating a multimedia educational companion piece for an electronic game that IBM has developed for Engineering Week 2008. The educational product will be delivered in a multimedia way that kids relate to, and it will illuminate what makes up an electronic game and what courses of study and careers are available in game-related fields.

At 6 am on Thursday, January 17 2008, Lowe's opened its doors in South Burlington. The store, whose construction and opening was delayed for over five years due to disagreements over storm-water and run-off laws, operated a branchs in every other US state except Vermont until now. The 106,000 square foot store, which employs 160, took only 85 days to build, compared to the normal 120 days.

Long-time Captive Insurance Regulator to Retire
Leonard Crouse Helped Pave Way for Growth of Industry in Vermont
MONTPELIER, Vt. Leonard Crouse, Vermont Deputy Commissioner of Captive Insurance and a fixture in the states captive insurance industry for 18 years, has announced his plans to retire effective June 1st of this year.
For more than 30 years Crouse has been a nationally recognized leader in insurance regulation and has been credited as a key figure in advancing the captive insurance industry both nationally and in Vermont.
We thank Len for his extraordinary and exemplary service to Vermont, and wish him well, said Governor Jim Douglas. Len has been a credit to the state, and has been a tremendous asset and important contributor to our success in the captive industry. He set the bar high for Vermont and we are fortunate to have time to conduct a thorough search for a worthy successor.

MAINE REGULATORS TO RE-CONSIDER TERMS OVER FAIRPOINT'S ACQUISITION OF VERIZON

(January 16, 2008) -- The Maine Public Advocate is suggesting that the states regulators revisit the conditions they approved earlier this month for Fairpoints acquisition of Verizon. The readjustment was suggested after The Vermont Public Service Department agreed on a deal with Fairpoint that differed from terms made between the company and Maine.
The Vermont Public Service Department, which represents consumers, reached an agreement with the phone companies on January 8. That agreement is now before the Vermont Public Service Board, which acts as the states regulatory body and has the final say in the decision.

Vermont Businesses for Social Responsibility (VBSR) announces a program to link students approaching graduation from Vermont colleges and universities to exciting job opportunities with member companies. With a grant from the Department of Labor, VBSR will create paid internships at companies that are creating new job opportunities.

"If you're a young, growing business, you have absolutely no time to create and manage an internship," says Executive Director, Will Patten. "If you're graduating from school in Vermont and are interested in finding work here, you don't know where to turn. We are pleased to be in a position to bring together businesses and students approaching graduation."

January 15, 2008

VERMONTS TWO LARGEST UTILITIES MEET
RIGOROUS EMISSIONS REDUCTIONS GOALS

COLCHESTER/RUTLAND, VT... Central Vermont Public Service and Green Mountain Power today announced they have both
successfully reduced greenhouse gas emissions in accordance with their
commitments as members of the Chicago Climate Exchange® (CCX), a voluntary,
legally binding multi-sector market for reducing and trading greenhouse gas
emissions.

"Climate change is one of the most compelling issues
in the world today, and we are pleased with our success in reducing emissions
and in helping to change the way utilities reduce greenhouse gas emissions
through a trading market," said Chris Dutton, President and
Chief Executive Officer of Green Mountain Power.

BURLINGTON, Vt.--Ecopixel, a Web services firm in Burlington, Vt., announced in January the launch of a new commercial Web site at www.Skimaven.com. The site features a ski blog written by local skier and writer Kris Surette. It provides ski trip reports and images, information on resorts and backcountry trails, and insight into on-snow activities around Vermont.

Providing Vermont businesses with a new online advertising venue, Skimaven.coms target audience is alpine, backcountry and cross-country skiers, both inside and outside of the state.

Ecopixel is a Web services firm that delivers compelling, easy-to-manage Web sites, reliable hosting, and targeted online visibility and marketing.

"As a member of the law firm she has worked with CVMC over several years, gaining the respect of many on the senior management team," stated Judy Tarr, CVMC president and CEO. "Patty's background and expertise are in human resources."
Prior to working as Counsel for Primmer, Piper, Eggleston & Cramer, Patty worked as general counsel for Marlin Management Services, Inc., a company providing operational and financial services to nursing homes and other businesses. Prior to that, she worked as a paralegal.
"Patty comes to us well versed in human resources law, procedures and policy. We are happy to have her on-board," Judy stated.
Patty lives in Burlington with her son Drew.