Current News

Blue Spruce Farm begins generating CVPS Cow Power
BRIDPORT - Fifteen-hundred Bridport dairy cattle of all ages, from first-calf heifers to mature milk cows, have become the newest generators in Vermont. Blue Spruce Farm has begun producing electricity by burning waste methane gas for CVPS Cow Power(tm), a first-in-the nation program directly linking CV customers, farm generation and the environment.
"The girls are now officially producing two streams of income, a milk check and a power check," said Earl Audet, who owns the farm along with his brothers and their families. "This is one more way to diversify the farm, improve our bottom line, and manage our manure responsibly."

Vermont Business Magazine The Offices of the United States Attorney for the District of Vermont and the Vermont Attorney General jointly have stated that William V. Boettcher, 57, the former Chief Executive Officer of Fletcher Allen Health Care, Inc. (FAHC) in Burlington, Vermont pleaded guilty to the federal felony of conspiring to make false statements in a health care matter, in violation of 18 U.S.C. §§ 371 and 1035, on charges arising from fraud in connection with the construction of the FAHC Renaissance Project.

Fonda Group closes St Albans plant
The Fonda Group, a manufacturer of decorative paper products, will close its St Albans plant November 1 as part of a consolidation by its parent corporation Solo Cup Company.

All 168 jobs in Vermont will be lost, though employees are encouraged to apply for other jobs in the Solo company across the country. The nearest such facility is in North Andover in eastern Massachusetts.
Fonda is one of St Albans oldest companies, going back 63 years. Fonda was bought by Solo in February 2003. Its other product lines include Sweetheart and Lily.

DET TO CONSOLIDATE OFFICES AND PROVIDE A NEW DELIVERY SYSTEM
Montpelier.... Patricia A. McDonald, Commissioner of the Department of
Employment and Training (DET) has announced that the Department is
proposing to implement a new delivery system that would allow DET to be
more responsive to the changing business climate and labor market while
continuing to operate within the constraints of declining federal funds.
DET's new strategy will make full use of its field staff by deploying them
strategically around the state, making them more available to employers
seeking skilled workers and able to offer services to more Vermonters
seeking employment.
The plan includes the consolidation of 12 offices into 6 regional offices
located in Bennington, Rutland, Springfield, Barre, St. Johnsbury, and
Burlington.
It is important to note that the remaining 6 communities - Brattleboro,

VERMONT ECONOMIC DEVELOPMENT AUTHORITY (VEDA)
SEES ITS VERMONT SBA 504 CORPORATION LOAN PROGRAM CAPACITY INCREASED
Congressional Action Increases Lending Authority of Nations
SBA-Certified Development Corporations
Montpelier, VT - The Vermont Economic Development Authoritys Vermont SBA 504 Corporation Loan Program -- Vermonts only statewide SBA-authorized Certified Development Corporation (CDC) -- will now be able to loan up to $4 million in SBA 504 funds to certain small manufacturing projects, a new category of lending established under the program. Limits for other qualifying business projects were increased as well, from $1 million to $1.5 million for regular 504 loans, and from $1.3 million to $2 million for loans that meet a public policy goal. The changes are a result of recent Congressional approval of provisions governing the 504 Loan Program through the FY05 Omnibus Appropriations Act, which has been signed into law.

Official Statement of Governor James Douglas on the Proposed Termination
of the Guard and Reserve Two-Year Rule
Tuesday, January 11, 2005
I strongly support the sentiment of Senators Leahy and Bond. It is
entirely inappropriate for the Army to eliminate, or in any way increase,
the 2-year limitation on Guard and Reserve mobilizations.
Based on a set of well defined policies, our Guard and Reserve forces have
been trained, equipped and prepared to deploy on a moment's notice.
Efforts to extend the 2-year limitation are a great disservice to the men
and women who have volunteered to serve and who loyally guard our freedom.
Termination of the limitation would fundamentally alter the federal
mission of the Guard, hamper recruitment, and dramatically compound the
stress of families, friends and employers.
I am unalterably opposed to this proposal. These brave men and women, and

Omega Optical Opens Doors At New World Headquarters
Omega Optical has just moved into its new 30,000 square foot world
headquarters and manufacturing facility on the Delta Campus in
Brattleboro. The company, a leading worldwide supplier of optical
filters for scientific research and instrumentation, is unifying its
operation in a state-of-the art building while adding capacity and
capabilities to satisfy growth in a variety of markets.
The new facility, designed from the ground-up specifically for the
manufacture of optical filters, has provided the company with the
opportunity to reengineer and plan every step of the manufacturing process
for efficient flow, with the resulting quality improvements and
cost-savings. Omega has also seen the move as an opportunity to make
major capital equipment improvements that will result in increased

Tom Torti to Become Secretary of Natural Resources
Montpelier - Governor Jim Douglas today announced that Tom Torti would
become Vermont's next Secretary of the Agency of Natural Resources,
effective January 24, 2005.
Torti, 50, of Essex, is a veteran state manager and currently Douglas'
Commissioner of Buildings and General Services (BGS). He steps in for
long time Douglas confidant Elizabeth "Wibs" McLain who is stepping down
to spend more time with her family, especially her 8 grandchildren.
Douglas said he is very confident in Torti's ability to lead the agency.
"Tom shares my commitment to improving and protecting Vermont's natural
resources and working landscape," the Governor said. "He has a proven
commitment to energy efficiency and resource management, has spearheaded
our fleet management and renewable energy programs, will continue to

NORTHFIELD SAVINGS BANK ADDS BOUNCE TO HALFTIME AT CATS GAMES

SOUTH BURLINGTON, VERMONT -- Coretomic, an Internet software corporation announces that Champlain College has integrated ColligoNet into the curriculum of its Internet, Information & Business course. Coretomic donated the software which has a retail value of $1 million, to Champlain College in Burlington, Vermont.
ColligoNet is a web management platform that enables companies to build, deploy and manage full Digital Business Centers. With this powerful tool websites become the hub for a company for marketing and sales, managing employees, managing the sales channel, and providing secure locations for customer orders and interaction. To learn about Digital Business Centers and how they can help you, please visit : http://www.Coretomic.com .

Chittenden Bank Announces the Retirement of President and CEO Lawrence
W.
DeShaw
BURLINGTON -- Chittenden
Corporation
(NYSE: CHZ) has announced that Lawrence W. DeShaw, President and CEO of
Chittenden Bank, will retire at the end of the first quarter of 2005,
after 34 years of dedicated service.

"This decision did not come easy, after 34 years of service to
Chittenden.
Chittenden Bank means a great deal to me and I will truly miss everyone I
have worked with over the years. I have chosen to make this transition at
a time when Chittenden is strong and stable. The senior management team
is knowledgeable and fully committed to our customers. Our Board of
Directors is engaged and experienced in all of the facets of business in
the communities we serve," said DeShaw.

Next Step Consulting, LLC Formed
Dr. Daniel J. Fleming, a veteran of more than 25 years as a manager, corporate officer, and Corporate Director in semiconductor and semiconductor equipment companies, has established Next Step Consulting, LLC to provide technical and management consulting services to technology companies. Prior to this, Dan was COO of JMAR Technologies (South Burlington, VT), CEO of SAL (South Burlington, VT), VP Engineering and Customer Support at SVGL (Wilton, CT), and an executive with IBM MicroElectronics.