Current News
by tim
John King, president and CEO of Vermont Public Television, the statewide
public television network, has been appointed to two boards. He was
elected treasurer and executive committee member of NETA, the National
Educational Telecommunications Association. NETA is a professional
association based in Columbia, S.C., that serves public television
stations and educational entities. Its mission is to provide quality
programming, educational resources, professional development, management
support and national representation for its members.
King has also been appointed to the Assembly of Overseers of
Dartmouth-Hitchcock Medical Center in Hanover, N.H. The overseers act as
advisers to the board of trustees on hospital affairs and customer and
community relations.
He holds a master's degree in public administration from Harvard
University, a bachelor's degree from Johnson State College and an
by tim
Acting on petitions filed by the American Society of Association Executives (ASAE) and other concerned business interest organizations,
the Federal Communications Commission (FCC) issued a stay of new
regulations governing fax advertisements until January 1, 2005.
The FCC granted the stay request after receiving hundreds of comments
and
requests for interpretation from associations and other businesses over
the past several weeks regarding the rulemaking, published July 25 in
the Federal Register. ASAE and others argued that the fax regulations as
written would significantly impede the marketing strategies and basic
communications between associations and their own members. The new rules
were due to go into effect August 25, but will now be given more
deliberate consideration to determine congressional intent.
by tim
Banknorth Group, Inc. (NYSE: BNK) today announced record quarterly net income of $87.5 million for the second quarter ended June 30, 2003, an increase of 15% over net income of $76.2 million for the second quarter of 2002. On a diluted earnings per share basis, the Company earned 53 cents for the second quarter, up 4% from 51 cents for the same quarter a year ago. Exclusive of merger and consolidation charges, earnings for the second quarter ended June 30, 2003 were $88.5 million, or 54 cents per diluted share, as compared to $76.9 million, or 52 cents per diluted share, for the second quarter of 2002.
by tim
Governor Jim Douglas threw his support behind efforts to redevelop downtown Winooski and with that support comes loan guarantees from the state that the federal government and developers have said are essential to the project's success.
The Governor said that he believes the Winooski Falls Riverfront Redevlopment Project can work, and that he expects to be able to provide the guaranty required by US department of Housing and Urban Development (HUD) for the approximately $22 million loan that HUD will make to Winooski for affordable housing.
"The City of Winooski has been working very hard for many years to realize its vision for a revitalized downtown," Governor Douglas Said. "I too, share that vision and since coming to office in January have worked with city officials, and others to assist in transforming that vision into reality."
by tim
Gloria Salvanelli, a 22-year veteran of the marketing business, has opened her own marketing firm, GCS Marketing in Burlington, Vermont, specializing in public relations, advertising, strategic marketing plans, and special events, and servicing the New England/New York area.
Salvanelli spent the bulk of her marketing career with small to medium-sized companies, making GCS Marketing a perfect fit to handle the marketing needs of many of the businesses in this region.
As a former Marketing Director for Deck House, Communications Manager for Vermont Castings, and Director of Account Services for Evergreen Direct, Salvanelli has planned, budgeted and bought local, regional, and national advertising in TV, radio, magazines, and newspapers.
by tim
The second-quarter net income for Charter One Financial Inc rose to $166 million from $145.9 million a year ago. The increase is due in part by a 16% increase in retail banking revenue and increased mortgage business.
Earnings rose 18% to 72 cents a share from 61 cents a share a yaer ago in the second quarter.
The earnings-per-sharewere restated to reflect the 5% stock dividend that was issued September 30.
The average annualized return on average assets was 1.5% and the average return on average equity was 19.86%.
Charter One will increase its regular quarterly dividend by 2 cents, or 8%, to 26 cents a share from 24 cents last quarter. Charter one is also discontinuing its annual 5% stock dividend and said the cash dividend is in the better interest of stockholders.
by tim
Vermont Business Magazine The Fletcher Allen Health Care Board of Trustees has named Melinda L. Estes, M.D., as president and chief executive officer of Vermont's academic medical center following a national search. Dr. Estes, 50, is a neurologist and neuropathologist who also has a master's degree in Business Administration. She has spent most of the last two decades in The Cleveland Clinic health care system, holding a variety of positions of progressive responsibility. Since 2001, she has served as chief executive officer and chair of the board of governors of Cleveland Clinic Florida where she oversees both Cleveland Clinic Naples and Cleveland Clinic Weston.
by tim
The Vermont Chamber of Commerce is pleased to announce that David R. Coates of Colchester has been selected as the Vermont Chamber Citizen of the Year. Coates will be honored with a banquet in the fall.
In the crowded field of awards given to Vermont community members, the Vermont Chamber of Commerce Citizen of the Year award is one of the most prestigious. Presented annually for nearly four decades, the Citizen of the Year Award honors the person who contributes to Vermont communities on a statewide basis through service, self-sacrifice, and volunteerism.
Coates is widely known as a successful Vermont businessperson who has contributed many years of volunteer service to the State of Vermont as well as organizations committed to economic development, education, and human services.
by tim
New rules adopted in late July will soon prohibit restaurants from faxing daily menus to customers unless they obtain expressed written consent in advance from each recipient, according to Paul H. Ode, a business attorney with the local law firm of Downs Rachlin Martin PLLC. Violators face a fine of $500 per fax. The rules, published on July 25, will be fully effective on August 25.
Under the Telephone Consumer Protection Act of 1991, it is a violation of federal law to send an unsolicited advertisement to a fax machine. Until recently, the Federal Communications Commission held that a fax from a person with an established business relationship with the recipient could be deemed to be invited or permitted by the recipient. So, it has been permissible for the corner deli to fax today’s menu to its customers, or for a manufacturer to fax product updates to its dealers.
by tim
The Vermont Alliance of Nonprofit Organizations presents the Fall 2003 Technical Assistance Program (TAP-VT) Workshop Series. This fall, VANPO will offer over forty (40) TAP-VT workshops designed to enhance and expand the management and technical skill of nonprofit employees in the following areas: Advocacy and Public Policy, Board Development, Financial Management, Fundraising, Marketing and Public Relations, Personal Development and Leadership, and Organizational Development and Management for the nonprofit sector.
The Fall 2003 TAP-VT Workshop Series has sessions scheduled September through December in the following Vermont towns: Bennington, Brattleboro, Burlington, Colchester, Middlebury, Montpelier, Randolph, Rutland, Springfield, St. Johnsbury, Waterbury, White River Junction, And Williamstown.
Full workshop descriptions and registration information is available at www.vanpo.org.
by tim
Lawrence Keyes, president, announces that Microdesign Consulting Inc. of
Colchester has been awarded a $10,000 grant from the Vermont Experimental
Program to Stimulate Competitive Research (EPSCoR) to develop a
conferencing system for home-based health care.
The grant was awarded to Microdesign in collaboration with Dr. Ge Wu of
the University of Vermont Department of Physical Therapy.
The system, to be deployed using a television set-top box and high-speed
internet connection, is designed for home-based patients who have
difficulty traveling to a clinic for treatment or therapy.
The prototype device will support a study of elder patients who use Tai
Chi exercise to develop and maintain flexibility, balance and muscle tone.
Microdesign is a six year-old corporation in Colchester VT which
specializes in computer network design and information systems planning
and management.
by tim
by Joyce Marcel, Vermont Business Magazine If he were on basketball team, and he played for Vermont, he’d be the captain and the “go-to guy” when the game was on the line. Not a flashy player, but the player in whom all his teammates had confidence, who had confidence in himself and his abilities, to make the big shot. To lead the team to victory.
But Vermont is a state, not a basketball team. And Luther Frederick Hackett, 70 and universally known as Fred, is a conservative, pro-business Republican insurance man and sixth-generation Vermonter who has been the ultimate inside player in Vermont’s political and business establishments – often the same thing – for more than 30 years.