Current News
by tim
Merchants Bancshares, Inc. Announces Special Dividend and Trust
Preferred Securities Issuance
SOUTH BURLINGTON, VT - The Board of Directors of Merchants Bancshares, Inc.
(NASDAQ: MBVT), the parent company of Merchants Bank, today declared a special
cash dividend of $4.50 per share payable December 17, 2004 to shareholders of record as
of the close of business on December 10, 2004. The total amount of this special dividend
will be approximately $28.10 million. After looking at several alternatives, Merchants
Board of Directors has determined that the lower tax rates on dividends provide an
opportunity for Merchants to return capital to its shareholders in the form of a special
dividend in a simple, fair and transparent process. Merchants has decided to move
forward with a special dividend as the optimal capital management alternative. Merchants
by tim
Governor Douglas Proposes $15.6 Million in Property Tax Reductions
Two Year Savings from Act 68 Would Exceed $41 Million
Montpelier, Vt. -- Governor Jim Douglas today proposed to reduce Vermont's
statewide property tax rates for education by 8 cents, an additional 3
cents below the reduction achieved last year.
"Under Act 68, the property tax reduction bill of 2003, the Legislature
established statewide homestead and non-residential property tax rates of
$1.10 and $1.59 respectively," Governor Douglas said. "In fiscal year
2005, based on projected surpluses in the education fund I proposed, and
the legislature approved, lowering rates by 5 cents to $1.05 and $1.54.
For fiscal year 2006, I will recommend statewide property tax rates are
reduced a total of 8 cents to $1.02 and $1.51 respectively."
This would be the lowest statewide property tax rate since the tax was
created by Act 60.
by tim
Salvanellis Authentic Italian Specialties
P.O. Box 65155
Burlington, VT 05406-5155
Telephone 802.951.2523
E-mail: [email protected]
Web site: www.salvanellis.com
For Immediate Release Contact: Gloria Salvanelli
Tel: 802-951-2523
Salvanellis Authentic Italian Specialties
Offers Gourmet Italian Food Baskets
Burlington, VT -- December 2, 2005 -- Its been said that the problem with Italian food is that, after you eat it, five or six days later youre hungry again. The point, of course, is that Italians are as passionate about food as they are about good wine and true love. Esse nufesso qui dice male di Maccheroni. In other words, He who speaks badly of macaroni is a fool.
by tim
Champlain names endowed chair for Perry
Champlain College trustees have announced the creation of the College's first endowed chair, naming it in honor of retiring President Roger Perry. The Board of Trustees voted to create this $1 million academic fund, The Doctor Roger H Perry Endowed Chair, as part of the College's successful Power of Three Capital Campaign.
The news came at the Annual Meeting of the Board of Trustees on October 22, when Champlain College trustees announced the Power of Three campaign has already raised $15 million, exceeding its $12 million goal a full year before the official close of the campaign.
Trustees and friends of Champlain College have been quietly raising funds for this special honor for President Perry, and they surprised him with the news at the Annual Meeting. They have already funded $800,000 toward the $1 million goal for the endowed chair.
by tim
Jobless rate falls to lowest level in nation
The federal Bureau of Labor Statistics has ranked Vermont's seasonally adjusted unemployment rate of 3.1 percent the lowest in the country.
One month ago, the state's unemployment rate was third lowest. Governor Douglas said this is another indication that Vermont's hard work and commitment to economic development and job creation is paying off.
The Department of Employment and Training has announced a seasonally adjusted unemployment rate of 3.1 percent for Vermont in October, down two tenths of a point from the previous month. The national unemployment rate was 5.5 percent, up one tenth of a point from the prior month.
Unemployment rates for Vermonts 13 labor market areas ranged from 1.4 percent in Hartford, to 4.3 percent in Enosburg. Labor market area rates are not seasonally adjusted; for comparison, the unadjusted rate for Vermont was 2.7 percent.
by tim
Shelburne, VT Rachel Lee, President of Armistead Caregiver Services, has been presented a $20,000.00 grant from the Eileen Fisher Company. The award to Armistead, one of five $20,000.00 Eileen Fisher Grants, was the only award given to a for-profit business. Armistead was singled out from over 250 other for-profit applicants nationally. The grant, for growth and development, will aid Armistead in service expansion to Addison and Franklin Counties. Armistead provides non-medical caregiver services to the elderly and adults with disabilities.
I was really impressed that Eileen Fisher chose to award money to a for-profit business and, specifically, a business owned by a woman, says Lee. Ms. Fisher, President and owner of a successful womens clothing line, developed the grants as a means of promoting the growth of fledgling businesses and non-profit organizations that promote the health, independence and empowerment of women.
by tim
UVM student center to be named after late Dudley Davis
The University of Vermont's new student center, scheduled for ground breaking next Spring, will be named after the late Dudley H Davis, thanks to a generous multi-million dollar gift from his family. Davis died November 29th, shortly after the dedication was announced.
The $70 million Dudley H Davis Center, approved in September by the university's Board of Trustees, is the largest and most ambitious building project in the university's history and key to the success of the institution's 10-year growth and pursuit of academic excellence strategy.
The gift comes in the form of a major challenge to friends and corporations from Mr. Davis' family. Once fully subscribed, this will provide the requisite $7 million to name the student center and the attached theater in honor of Dudley H. Davis. To date, $6 million has already been raised.
by tim
Armistead Caregiver Services is pleased to announce that Beryl Champagne, a long-time Armistead Caregiver, is now Armisteads new Job Trainer. Beryl will be overseeing and conducting all aspects of caregiver training for both new and existing clients and will be managing all client and caregiver day-to-day issues and concerns regarding care.
In addition to her extensive caregiving career, Beryl has served as a case manager and owned and operated her own restaurant and motel in Swanton for 15 years.
Armistead is a premier caregiver service serving Northwestern Vermont since 1999. Armistead provides assistance to the elderly and adults with disabilities in homes and other settings. Services include personal care and bathing, meal preparation, light housekeeping, transportation and errands, medication reminders and more.
by tim
LandVest Opens Manchester Center, Vermont Office
Manchester Center, VT LandVest, Inc., located at 39 Bonnet Street in Manchester Center, specializes in the marketing of luxury homes, land, and estates. With offices throughout the Northeast, including professionals in real estate sales, consulting and appraisal, land planning, forestry services, graphics, advertising, business and finance, LandVest has become the premier advisor and problem solver for owners of unique properties.
Robert McCafferty, Senior Project Manager and Principle Broker, has held a Vermont Brokers license since 1965 and, in addition, has 23 years of corporate and commercial real estate experience in New Jersey. Howard McNally, Project Manager and sales associate, recently joined the LandVest team after serving as COO of Consumer Services for AT&T, adding an in-depth knowledge of consumer communications and marketing to the team.
by tim
Robert and Holly Miller become Champlain Colleges top lifetime benefactors
BURLINGTON, Vt.--Champlain College officials announced today that Robert and Holly Miller have become the leading lifetime benefactors of the College. This week, the Burlington couple increased their Power of Three capital campaign pledge to $2.2 million to add their support to the Colleges first endowed chair, a $1 million academic fund created to honor retiring President Roger H. Perry. Over the past dozen years, the Millers have donated $3.75 million to the private, career-oriented college.
We support Champlain College to help it move to ever higher levels of excellence and innovation, said Holly Miller, who has served on Champlains board of trustees for 12 years. We also wanted to honor Roger Perrys extraordinary leadership by contributing to the endowed chair.
by tim
Brattleboro Firm Well Represented at National Green Building Conference
Brattleboro-based BuildingGreen, Inc. was well represented at the 2004 Greenbuild Conference held November 10-12 in Portland, Oregon. Seven employees of the company, which publishes the highly respected monthly newsletter Environmental Building News, made the trek to the U.S. Green Building Councils largest-ever national gathering, attended by more than 6,000 people from throughout North America and dozens of other countries.
BuildingGreen sponsored a kick-off party for more than 300 friends and associates at the Ecotrust building, the nations first historic building to be certified through the USGBCs LEED® (Leadership in Energy and Environmental Design) rating system.
by tim
BURLINGTON, VT-Thomas W. Crapo, Vice President of Operations for Vermont Federal Credit Union (VTFCU), has been elected to the Board of Directors of Onion River Cooperative for a 3-year term.
Tom has over 20 years of combined management experience with co-operative institutions, including; operations, lending, finance, compliance and policy. Tom holds a B.S. in Business Administration from the University of Vermont and is currently enrolled in the Master of Science Administration program at St. Michaels College.
WHY VERMONT FEDERAL CREDIT UNION:
VTFCU is a $140 million plus financial institution, currently serving over 21,000 members. We provide membership to anyone who lives, works, worships or attends school in Chittenden, Grand Isle, Lamoille, Franklin, Washington, or Addison Counties in Vermont.
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