Current News

Raising the Bar. Thriving by Continuous Improvement
A One-Day Introduction to Performance Excellence Thursday, April 3rd, 9:00 a.m. to 4:30 p.m.
EXPLORE AND LEARN ABOUT:
Strategic Planning: Learn how to align decisions, improvement efforts and daily operations to attain the strategic results you require.
Leadership: An effective leadership system sets the course and climate for the organization and inspires others to "make it happen." Find out how to transition from reactive managing to energizing, proactive leadership.
Developing the Organization: See examples of how the challenges of current and emerging business trends can be addressed through enhancing agility, innovation and individual and team empowerment. Find out how process and data management also play an important role in the success of high-performance organizations.

Administrator Hector V. Barreto of the U.S. Small Business Administration lifted a 5-month cap on SBA-backed loans and invited participating lenders to resume submitting applications for guaranteed loans up to the $2 million statutory limit.
The decision was made today after President Bush signed recently adopted legislation that allows the agency to implement its revised econometric subsidy model, which more accurately forecasts the actual costs of the 7(a) loan program. The model will be applied retroactively to the beginning of the current fiscal year.
The econometric model, in combination with appropriation levels provided in the FY 2003 budget, will allow the agency to approve more the $9.4 billon 7(a) loans during the current year, plus $1.8 billon in STAR loans that have already been made.
The decision to lift the loan cap is effective immediately

Sonnax has entered into a contract to purchase the Ben & Jerry's
Distribution Warehouse in Bellows Falls, VT.
Closing for the transaction
is scheduled for Oct. 1, 2003. Reconfiguration and renovation will take
approximately two months after the closing, and they expect to be fully
operational in December of 2003.
All finished goods ready for sale will be
located in the new facility. In addition, the Engineering Department and a
new Technical Center for the development of new products will be based in
the new facility. Expansion is expected to add at least seventy-five jobs
over the next five years.

Union Bankshares, Inc (AMEX-UNB) announced the planned merger of its two subsidiary banks, Union Bank, Morrisville, Vermont and Citizens Savings Bank and Trust Company, St Johnsbury, Vermont, under the name and banking charter of Union. Union Bankshares acquired Citizens in December of 1999. Since the acquisition, each subsidiary bank has operated semi- autonomously under the bank holding company.
Union, serving north-central Vermont and Citizens, serving northeastern Vermont are community banks with combined assets of $343 million as of December 31, 2002. Both banks provide commercial, residential and consumer loans, as well as a wide array of deposit products and trust services.

The Vermont Small Business Development Center is seeking input on business needs in Vermont. Using a new online survey, SBDC will tally the responses to help develop programs and training to better serve small businesses.
The Vermont Small Business Development Center, with headquarters at Vermont Technical College in Randolph, has regional offices throughout the state providing comprehensive and free business counseling.
“It’s critical that we keep pace with the changing needs of our customers,” said Donald Kelpinski, State Director. “So – we’re asking what businesses need to make them more successful.”
Companies that complete the survey and provide contact information will be entered into a drawing for a gift certificate for FastTrac Planning – a popular eleven-week seminar designed to help you grow your business valued at $495.

It takes a carefully crafted team of more than 1,200
employees to keep the resort operations at Okemo Mountain running smoothly
12 months out of the year. A dedicated workforce of professionals who are
experts in their fields fill a variety of positions that include indoors
and outdoors, full-time and part-time.
Okemo's Vermont student workforce is an integral part of the overall operation. But, when the local school systems do not share the same
holiday vacation week as the rest of the eastern states, Okemo's Human
Resources team "kicks into action" to fill those much-needed positions.
Remo Paul, Co-op Coordinator at the River Valley Technical Center
worked closely with Crystal Stokarski, Okemo's Director of Human Resources
to develop a program where students could work in a number of service
related positions at Okemo and gain experience while on the job. These

The Vermont Chamber is pleased to present the Top Ten Economic Development Initiatives for 2003. Printed on a double-sided card, the recommendations present the legislative priorities of the Vermont business community in an accessible format, addressing: Permit Reform, Workforce Development, Recruiting and Marketing, Telecommunications, Cost of Doing Business, Infrastructure, Business Assistance, Financing Incentives, Energy, and Tax Policy.
Chris Barbieri, Vermont Chamber President, stated “As we crafted the Top Ten we consulted with many voices within Vermont business community, recognizing that working together strengthens the business agenda for the entire state of Vermont.” As the legislative session moves into full swing, job creation continues to grow as a bi-partisan priority.

General Manager Gary Thulander announced
today that the Equinox Resort & Spa has been named one of the World’s 500
Greatest Hotels by Travel & Leisure Magazine. The Travel & Leisure 500
is composed of the 500 hotels that have received the highest overall
scores from the 2002 World’s Best Awards survey, taking into consideration
rooms/facilities, location, service, restaurants/food and value. “We are
thrilled to be recognized as one of the elite properties in the World,”
commented Thulander. “This award is a testament to our incredibly
dedicated staff. Over the past year we have worked very hard to upgrade
our amenities and deliver a memorable resort experience to our guests.
It’s gratifying to see those efforts recognized in the form of this award.
It’s all part of our goal to be the number one resort in the Northeast.”

Peter Crosby, chairman of the Vermont Bankers Association announced that Christopher D'Elia has been appointed to the position of president of the VBA. D'Elia replaces Timothy Hayward who left the VBA after 18 years of service to become Chief of Staff for Governor Jim Douglas.
D'elia most recently served as commissioner of the Vermont Department of Economic Development. During his two year tenure as commissioner, he was responsible for overseeing the economic development efforts for the state of Vermont, facilitating a partnership of public and private organizations associated with economic development as well as acting as a liason between the business community and the Dean administration. Prior to his commissioner's post, D'Elia was executive directorof the Vermont Economic Progress Council, of Workforce Education and Training at Vermont Technical College, and executive director of the Lamoille Economic Development Corporation.

The Vermont Interpreter Referral Service (VIRS) is
celebrating ten years of providing interpreting services for Vermonters.
The Vermont Interpreter Referral Service was founded October 1,1992. It
has grown steadily as awareness of the Service, its effectiveness, and the
implications of the landmark federal legislation, Americans with
Disabilities Act (ADA), also enacted in 1992, have grown.
VIRS provides state-wide interpreter and CART referral services for
American Sign Language (ASL)/English interpreting assignments in settings
such as governmental, mental health, medical, legal, employment,
educational, civil and recreational. VIRS serves all Vermonters, both
hearing and deaf, in need of securing a sign language interpreter.
VIRS also provides advocacy for deaf clients, training opportunities for
interpreters and serves as an informational resource throughout the state.

A University of Vermont Extension day-long workshop offers farmers the
opportunity to develop cross-cultural understanding and management skills
for employing a Hispanic workforce.
Scheduled for February 25 at the
Burlington Sheraton, the conference will cover such topics as
"Understanding the Implications of Culture," "Issues Related to Managing a
Multi-cultural Workforce," "Immigration Reform--Implications for Dairy
Farm Employers," and "What I Learned Over the Years on my Farm," a
presentation by a veteran dairy farmer. Presenters include Tom Maloney,
Cornell University applied economics and management specialist; Rick
LeVitre, University of Vermont dairy herd management and farm labor
management specialist; Dr. Miguel Morales, a California-based labor
consultant; and John Mueller, a western New York dairy farmer.
Taking part in the day's activities is a valuable investment for any

Green Mountain Power Corporation (NYSE:GMP) today announced consolidated earnings of $1.98 per share of common stock, diluted, in 2002 compared to consolidated earnings of $1.85 per share, diluted, in 2001. Reduced power supply expenses, declines in other operating expenses and lower interest and preferred stock dividend costs more than offset reduced operating revenues in 2002, compared to 2001.
"Year-end financial results for 2002 were strong," said Christopher L. Dutton, President and Chief Executive Officer, “and we anticipate similar earnings for 2003. We are particularly pleased to have an opportunity to achieve these results without the need for an increase in rates for our customers."