Banknorth Group Inc. (NASDAQ: BKNG)announced record quarterly net income of $76.9 million, or 51 centsper diluted share, for the three months ended September 30, 2002, anincrease of 24% from net income of $62.2 million, or 45 cents per dilutedshare, for the same quarter a year ago. Exclusive of special charges,third quarter earnings were $78.3 million, or 52 cents per diluted share,up 26 % from $62.2 million, or 45 cents per diluted per share, for thesame quarter a year ago.For the first nine months of 2002, net income was $221.5 million, or $1.48per diluted share, an increase of 25% from $177.2 million, or $1.27 perdiluted share, for the first nine months of 2001. Exclusive of specialcharges, income for the first nine months of the year was $228.9 million,or $1.53 per diluted share, up 26% from $181.1 million, or $1.30 perdiluted share, for the first three quarters of 2001.The Company also announced today that it will move to the New York StockExchange on November 4, 2002, where its common stock will trade under thesymbol BNK.“Our growth in assets to $22.5 billion as of September 30, our continuedstrong earnings, and our geographic expansion to a strong presence inevery New England state except Rhode Island convinces us that the time isright to move to the NYSE,” said William J. Ryan, Chairman, President andChief Executive Officer.The Company’s acquisitions over the past year and a half were a majorfactor in double-digit growth in loans and deposits.Total loans at September 30, 2002 were 26% higher than total loans atSeptember 30, 2001. Exclusive of acquisitions, nonresidential loan growthwas still strong at 11%, with the strongest growth coming in commercialbusiness and commercial real estate loans.Total deposits at September 30, 2002 were 24% higher than total depositsat September 30, 2001, with the greatest growth in checking, retail moneymarket and NOW accounts. Exclusive of acquisitions, core deposit growthwas 13%.Acquisitions and the loan and deposit growth helped achieve net interestincome for the quarter ended September 30, 2002 that was 18% higher thanfor the same period in the prior year, despite margin pressure largely dueto more loan prepayments primarily as a result of declining interestrates.The net interest margin for the quarter ended September 30, 2002 was4.03%, down from 4.08% for the same quarter a year ago and down from 4.18%from the previous quarter. The net interest margin for the nine monthsended September 30, 2002 was 4.14%, as compared to a net interest marginof 3.94% for the first three quarters of 2001.Asset quality improved over both the same quarter a year ago and theprevious quarter.At September 30, 2002, nonperforming assets as a percentage of totalassets were 0.31% as compared to 0.39% at September 30, 2001 and to 0.34%at June 30, 2002. Nonperforming loans as a percentage of total loans atSeptember 30, 2002 were 0.47% as compared to 0.59% at September 30, 2001and to 0.51% at June 30, 2002. Net charge offs to average loans of 0.31%for the quarter ended September 30, 2002 and 0.30% for the first ninemonths of the year were essentially consistent with the same periods ayear ago.The Company’s efficiency ratio for the quarter ended September 30, 2002was 52.35% as compared to 54.22% for the same quarter a year ago.Noninterest income for the quarter ended September 30, 2002, principallyfee income from deposit and nonbanking services, increased 8% over thesame quarter a year ago, from $60.6 million to $65.5 million. Noninterestincome increases were primarily in deposit services, investment planningservices, insurance brokerage commissions and merchant and electronicbanking. These increases more than offset a decrease in mortgage bankingincome, which experienced $2.6 million of impairment and amortizationcharges to the value of mortgage servicing rights, and a decrease in trustand investment management services income, which reflected the weak stockmarket. The mortgage banking impairment and amortization left a remainingbalance of capitalized mortgage servicing rights at September 30, 2002totaling $5.2 million, or approximately 70 basis points of the unpaidbalance of loans serviced for others.Shareholders’ equity at September 30, 2002 was $1.92 billion, up 32% from$1.46 billion at September 30, 2001. Book value per share at September 30,2002 was $13.01.The Company completed the acquisitions of Ipswich Bancshares, Inc, basedin Ipswich Massachusetts, and Bancorp Connecticut, Inc, parent company ofSouthington Savings Bank, during the quarter ended September 30, 2002.The acquisitions of Warren Bancorp (NASDAQ: WRNB), headquartered inPeabody, Massachusetts, and American Financial Holdings, Inc. (NASDAQ:AMFH), parent company of American Savings Bank in Connecticut, are pendingregulatory approvals and votes by the shareholders of both companies. Itis anticipated that these acquisitions will increase the Company’s totalassets to over $26 billion.The Company’s results for the nine months ended September 30, 2002 reflectits adoption of Statement of Financial Accounting Standards (“SFAS”) No.147, “Acquisitions of Certain Financial Institutions.” Under SFAS No.147, the Company can reclassify certain unidentifiable intangible assetsto goodwill and cease amortization beginning January 1, 2002. As a result,earnings for the first nine months have been increased by two cents pershare. Exclusive of the adoption of SFAS No.147, earnings for the quarterended September 30, 2002 exclusive of special charges still were 52 centsper share. read more
Before you spend time or money with a professional carpet cleaning company contact local teacher, Grady Turner, the co-founder of ALL CLEANED UP LLC™ Vermont’s Socially Responsible Carpet Cleaning Company. Turner’s brainchild supports his passion for teaching and addresses his concern for our surroundings. “Carpets act as a trap for indoor air-pollutants that affect the air our children breathe. We created a cleaning system combining science and technology to provide value in terms of; performance, health and environmental benefits. Our services deliver proven performance while remaining competitive in price as a socially responsible company, our obligation is to the environment using only organic products that are readily biodegradable and safer for people” stated Turner recently from his home, the quaint All Tucked Inn Bed & Breakfast, he shares with his two Labs, Fred and Opal. Turner extensively reviewed the “green” products available and given the growing interest and demand in “green” cleaning products, he concluded, “Seventh Generation® and Enviro-Solutions® have the demonstrated value our customer’s demand…• Naturally Based Renewable Ingredients• Considered Essentially Non-Toxic• Exceeds Acute Toxicity Standards• Minimizes Impact on Fish, Wildlife, Drinking Water and Swimming Locations Satisfied customer Maureen Finnerty stated recently, “Performance of their products and services are excellent, considering their products are safer for our surroundings. I was also impressed because they actually showed up on time and completed a five-step process. I was about to rip up my carpets but they brought them back to life, I was happy to save the money.” As a new company Turner stated that “We already have many happy customers, both residential and commercial. Besides our earth-friendly approach we use high performance portable machines that are not affected by the cold weather and go where most truck mounted companies cannot.” Turner also notes that, “Many cleaning companies use harmful chemicals and only offer a two-step cleaning process, some don’t even vacuum! While ALL CLEANED UP LLC™ offers five-steps…” 1) Proper vacuuming to remove dust and other contaminants 2) Pre-spray to penetrate and dissolve most stains and soils 3) Apply Envirocide™ shampoo which breaks down and emulsifies particles 4) High solvency, low pH, high-heat, extraction – rinses and dries quickly with no residues 5) Mist and spray Envirocide™ odor eliminator – which leaves carpets hygienically sanitized.“Our expertise in carpet care is available 7 days a week for those emergency spills and pet stains. Customerservice and user-friendliness are important aspects of ALL CLEANED UP LLC™ please urge your boss, co-workers, family members, friends and neighbors to call us at 802.878.5680 for a free consultation.” read more
VERMONT BUTTER AND CHEESE COMPANY WINS 5 AWARDS AT WORLD CHEESE COMPETITIONWebsterville, VT – October 2, 2008 – Vermont Butter and Cheese Company, wins 5 awards at the World Cheese Awards held in Dublin Ireland. The winners include Vermont Chevre, Vermont Fresh Crottin, Vermont Creamy Goat Cheese, Vermont Quark and our Signature Aged Cheese Bijou.”The company is honored to receive world-wide recognition” said company co-founder Allison Hooper. “Winning awards for goat cheese across the ocean is a big deal. The competition can be fierce” The company’s cheeses also won coveted awards earlier in the summer at the American Cheese Society’s Competition in Chicago as well as the “Outstanding Product Line” at the Summer Fancy Food Show in New York.The company will celebrate its 25th anniversary next year. Partner, Bob Reese said,”This award is a great milestone for us as we are about to celebrate our 25th year in business. It really validates not only our product line but parallels the evolution of American- made cheeses in the United States.”About Vermont Butter and Cheese Company:Vermont Butter and Cheese Company, located in Websterville, VT, is dedicated to crafting artisanal dairy products in the European style through a vital link of local Vermont farms. The company supports a network of more than 20 family-owned farms, providing milk that meets the highest standards of purity, and is a proud contributor to the health of local agriculture. read more
Ecopixel, a Web development and online visibility firm in Essex Junction, launched a new Web site in early October for the Vermont League of Conservation Voters (VLCV) in Montpelier.Ecopixel designed a content management system-based site for the nonprofit association, which serves as the non-partisan political voice of the state’s environmental community. The site (www.vlcv.org(link is external)) features sortable environmental “scorecards” for Vermont legislators, up-to-date lists of endorsed candidates and an integrated e-newsletter system which allows Web visitors to register to receive news that affects their specific county or counties of interest. VLCV staff then tailor the e-mails sent to different counties for increased impact. An October e-mail and Web announcement of VLCV’s 2008 environmental scorecard received a strong response rate, VLCV Executive Director Todd Bailey said.Bailey said the new Web site marked a change in identity for the organization, which was formerly called the Vermont Alliance of Conservation Voters. Ecopixel was tapped to help rebrand the nonprofit, which is affiliated with the national League of Conservation Voters. VLCV also makes use of Ecopixel’s green Web site hosting program called Eco-Positive Hosting (TM). read more
The third annual Top Chef of the Champlain Valley, an Iron Chef Experience will be held at UVM’s Davis Center Aug 10, 2009 at 6pm to benefit the Champlain Valley Agency on Aging’s Meals on Wheels and Case Management programs. Watch as Sam Palmisano of Pulcinella’s defends his title against Robert Barral of Cafe Provence and JJ Vezina of the Windjammer Restaurant and Upper Deck Pub. Enjoy appetizers from some of the areas top chefs. Farrell Distributing and Woodchuck Draft Cider will be holding a wine, beer and draft cider tasting.Silent Auction items include weekend getaways including a spa getaway at the Stowe Mountain Lodge, a tasting dinner at Stowe Mountain Lodge’s Solstice Restaurant, a catered 3 course meal delivered to your family of 4 by Melissa Pasanen using recipes from her cookbook “Cooking with Shelburne Farms, a chance to join Seven Days Suzanne Podhaizer as she reviews a local restaurant, restaurant gift certificates, cooking lessons, gourmet food products, autographed celebrity cookbooks and much more. For more information or to purchase tickets online please click on the link below.http://www.cvaa.org/involved_topchef_09.shtml(link is external)Tickets are $35 and they are going fast. For more information call 865-0360. Please feel free to forward this on. The Top Chef helps CVAA be able to deliver nearly 225,000 Meals on Wheels each year to homebound seniors in the Champlain Valley. read more
Source: Governor’s office. 2.9.2010 Governor Jim Douglas today released his recommendation to abolish 55 state boards and commissions and modify six others. The Governor s proposal would streamline bureaucracy and allow state workers to focus more time on their core duties. Regardless of our fiscal situation, we must always look for ways to make state government more efficient and save taxpayer money, said Governor Douglas. This is an important effort to modernize state government making it sustainable for the years to come.The recommendations are part of the Administration s Tiger Team response to the projected $150 million shortfall in the FY 2011 budget. This Team led the effort to take a fresh look the 300 state boards and commissions. The Tiger Team found many boards and commissions have been inactive for years, while others have overlapping missions and functions. The Governor s proposal calls for the abolishment of 45 boards and commissions through statute and 10 through Executive Order. Six others will be modified and otherwise consolidated. Some of the proposals will be difficult and meet resistance, but with such daunting fiscal challenges we cannot maintain the status quo, the Governor remarked.These recommendations represent a combined General and Special Fund savings of nearly $700,000. Of this amount, $171,000 was included in the Governor’s FY 2011 Recommended Budget. Additional administrative savings from not staffing and servicing these boards and commissions will be realized by Agencies and Departments. The Administration s Director of Budget Operations Otto Trautz briefed the recommendations to the House Government Operations committee this morning. I want to thank Otto for his tremendous leadership and hard work, and that of his Tiger Team, in identifying opportunities to streamline state government, noted Governor Douglas. “I also want to thank the House Government Operations committee for their continued interest and collaboration on this important work.”The list of boards and commissions recommended for abolishment and modification is pasted below and attached. read more
The winners of the 31st Annual Telly Awards have been announced, with Media Solutions International (MSI), a communications strategy and design firm specializing in the healthcare industry, taking home five statuettes for distinctive creative design and execution of website development and videography.With nearly 11,000 entries submitted from all 50 states and around the world, this year’s competition has been one of the most competitive and successful in the long history of the Telly Awards.MSI received the Silver Telly Award, the highest designation (awarded to less than 10% of all entries this year) for ‘Rehab Microsite Recruitment Video’ and ‘Surgical Services Microsite Recruitment Video’ for Elkhart General Hospital in Elkhart, IN.MSI was also awarded the bronze Telly Award to honor creative video production for Elkhart General Hospital’s ‘Pharmacy Microsite Recruitment Video’, New Hanover Regional Medical Center’s ‘OR Microsite Recruitment Video’, and Foundog’s ‘Foundog Online Marketing Video.'”Our production team diligently collaborated on these various projects to create unique and engaging recruitment tools for our clients, that in turn, have contributed to the growth and value of their affiliated organizations,” said MSI President and Creative Director, Jim Curry. “The recognition we’ve received has reinforced our commitment to producing high-quality, customized solutions for our clients, and we’d like to thank the committees at The Telly Awards for granting our team this honor.”MSI currently holds 12 Telly Awards from 2008-2010. Other esteemed Silver Telly Award winners from agencies and organizations of all sizes include AEG Network LIVE, American Cancer Society, Booz Allen Hamilton, Colonial Williamsburg Productions, Cox Communications, DDB, Discovery Communications, Evans & Sutherland, Fox Soccer Channel, Grey NYC, GSD&M Idea City, Harpo Productions, HBO Latin America, IBM Digital Video Services, JWT BOOM, Keller Crescent Advertising, Laszlo Rain, Maguire Reeder, Ltd., Mercury Multimedia, Inc., Miami Dolphins, Microsoft, NBC Universal, New York Jets, NFL Films, Nickelodeon, Outdoor Channel, Penn College, Radio Television Hong Kong, Ruder Finn, Salon Films (HK) Ltd., Sony Pictures, Suddenlink, TBWA/Chiat/Day Los Angeles, The Inspiration Networks, TV Guide Network, Warner Bros., and Young & Rubicam.MSI is a full-service communications agency with experience developing award-winning websites and marketing campaigns. Over the years, MSI has built a solid reputation by focusing on client needs, formulating effective strategic plans, creating innovative solutions and delivering materials that speak to targeted audiences. Headquartered in the beautiful green mountains of Vermont, MSI has offices in Arizona, Florida, North Carolina, Wyoming and Michigan. For more information, visit http://www.wishtocommunicate.com(link is external).The Telly Awards, founded in 1979, honor outstanding creative work in local, regional, and cable television programs and commercials, in addition to exemplary film and video productions, web work, videos and films. Highly sought-after by industry leaders, Telly Awards represent the best work of the most respected advertising agencies, international firms, and production companies.Source: MSI. ESSEX JUNCTION, Vt., July 14, 2010- read more
PreLaw magazine has ranked Vermont Law School as among the top environmental law schools in the nation. In preLaw’s “Back to School” 2010 edition released Tuesday, VLS and three other law schools received the magazine’s summa cum laude ranking as the best of the best for their environmental law programs and green campus practices.Noting that US News & World Report ranks VLS as the nation’s premier environmental law school, the preLaw article points out that VLS offers a broader and deeper selection of environmental law and policy classes than any school in the nation during both the academic year and summer session.To read the preLaw article, go to: http://www.nxtbook.com/nxtbooks/cypress/prelaw_backtoschool-2010/#/10(link is external)Vermont Law School, a private, independent institution, has the top-ranked environmental law program and one of the top-ranked clinical training programs in the nation, according to U.S. News & World Report. VLS offers a Juris Doctor curriculum that emphasizes public service, a Master of Environmental Law and Policy degree and two post-JD degrees, the Master of Laws in Environmental Law and the LLM in American Legal Studies (for international students). The school features innovative experiential programs and is home to the Environmental Law Center and the South Royalton Legal Clinic. For more information, visit www.vermontlaw.edu(link is external). read more
University of Vermont,The University of Vermont Center for Rural Studies (CRS) has awarded funds to three university/community food system projects in Vermont. The funding was made available in a USDA grant secured with the help of Senator Patrick Leahy.The funds awarded include $11,332 for a project led by the Vermont Sustainable Jobs Fund, $12,000 for a project led by VT FEED, and $12,000 for a project led by the Center for Sustainable Agriculture”These partnership grants are important for the future of Vermont as a leader in the development of a vibrant, economically sustainable regional food system,” says CRS Director Jane Kolodinsky. “The community partners will implement the projects and UVM researchers will evaluation their impact. Together, we can help move Vermont agriculture forward.””Each of these projects will add to knowledge and practical experience of our food systems in Vermont with benefits to producers, consumers and Vermont’s economy,” adds Senator Patrick Leahy. ‘Great work by the Center for Rural Studies is making it possible to have a real impact with the leverage of these investments.”The project led by the Vermont Sustainable Jobs Fund will test a method for determining how much of Vermont’s current food consumption is actually produced locally. It will build on Vermont’s Farm to Plate strategic planning process as well as efforts throughout the nation to measure the economic impact of increased local food consumption and the capacity of the land base to support local diets. The outcome of the project will be a set of pilot data and a method that can be used to conduct a full study in Vermont as part of implementing the Farm to Plate strategic plan. The benefit of this project to the broader food systems community is to create a credible means of measuring current local food consumption and tracking progress toward stated goals over the next 10 years.This project led by VT FEED (Food Education Every Day), a collaborative partnership of Shelburne Farms, the Northeast Organic Farming Association of Vermont and Food Works at Two Rivers Center, will work with PEER Associates and members of the growing Vermont Farm to School Network to develop a web-based “Farm to School Evaluation Toolkit.” The toolkit will include a Needs Assessment Rubric and surveys to assist schools and Farm to School practitioners throughout Vermont to collect data to support increased understanding of the impact of Farm to School activities. Broadly defined, Farm to School programming connects schools (K-12) and local farms with the objectives of serving healthy meals in school cafeterias, improving student nutrition, providing agriculture, health and nutrition education opportunities, and supporting local and regional farmers. The evaluation toolkit will benefit the growing Farm to School movement in Vermont and throughout the country by increasing the information collected and shared about practices from existing programs and research activities.The project coordinated by the UVM Center for Sustainable Agriculture will include the Windham Farm and Food Network, the Vermont Vegetable and Berry Growers Association, the Northeast Organic Farming Association of Vermont, the Vermont Tree Fruit Growers Association and the Vermont Agency of Agriculture. This project will explore the feasibility and logistics of creating a food safety certification program that could serve as an alternative to GAPs certification for small, diversified produce farms. Complying with the current USDA GAPs food safety certification can be very challenging for smaller growers, who often lack the staff and additional capacity required. This project will determine whether creating an alternative food safety certification process for small produce farms would be a viable option for Vermont. read more
Stowe Mountain Resort,This summer, Stowe Mountain Resort will replace the FourRunner chairlift on Mount Mansfield with a new high-speed quad. Originally installed in the ‘80s, the FourRunner has been Stowe’s most popular lift, uploading more skiers and riders than any other lift in the resort’s history. The new lift will debut for the 2011-2012 ski and ride season.‘Our goal is to provide the very best experience possible for all of our guests,’ states Robert McEleney CEO and President of Stowe Mountain Resort. ‘The terrain on Mount Mansfield is the heart and soul of the resort. This brand new detachable quad lift will provide superlative lift service to the very best alpine terrain in the East.’ Now, amidst a winter experience that’s second to none in the Northeast, access to the greatest variety of terrain east of the Rockies will become even more seamless with a new state-of-the-art quad on Vermont’s highest peak.Stowe Mountain Resort is rich in ski resort history and one of the original four-season destinations in the United States. As far back as 1857, when H.H Bingham constructed a hotel atop Mount Mansfield, visitors have been traveling to Stowe for a world-class, high-quality experience that is both authentic and one-of-a-kind. Setting new standards for guest service and amenities in New England for well over a century, Stowe Mountain Resort has, since 2005, been reinforcing its brand with vast improvements and additions to mountain operations and slopeside amenities. More About Stowe’s Recent Resort ImprovementsPlanning started in 1992 for what is currently the East’s premier luxury mountain resort, completed improvements include: Spruce Peak at Stowe- A new slope-side community that is well underway at the base of Spruce Peak and Mt. Mansfield. The intimate alpine neighborhood boasts enviable properties for purchase, an 18-hole golf course, dining, retail, esplanade and more.Spruce Camp Base Lodge- Stowe Mountain Resort’s central source for skier and snowboarder services.Stowe Mountain Lodge- The 312 room luxury lodge has established a new alpine aesthetic that celebrates rustic Vermont-Alpine architecture and the artisan traditions of New England.Spruce Peak Performing Arts Center- The 420-seat multipurpose theatre presents live and multimedia performances including theater, music, dance, variety, film, and much more.The Spa at Stowe Mountain Lodge- A luxurious 21,000 square foot world-class spa featuring distinctive services themed around the changing seasons of Vermont.York Fully-Automated Snowmaking- Creates a perfect snowstorm with the click of a button. From one computer, a snowmaker can control all the snowmaking hydrants on the system. Snowmaking is also enhanced with a new 100 million gallon pond.Intermountain Transfer Gondola’ New transportation gondola provides access between Mount Mansfield and Spruce Peak in less than two minutes and eliminates the need to drive around the resort.Sensation Quad’ New high-speed detachable lift delivers skiers & snowboarders to the summit of Spruce Peak in six minutes.Sunny Spruce Quad’ New high-speed detachable lift provides access to most of the resort’s beginner trails and learning areas. Ride time is less than five minutes.Adventure Triple’ New beginner lift for adults and children. This lift provides access to an entirely new beginner trail named ‘Inspiration.’ The low-riding lift and consistent twelve degrees of pitch provide the ideal learning terrain and environment.Main Street’ The premeire alpine racing trail in New England and the host of the 2011 NCAA National Skiing Championships. Source: Stowe. 3.25.2011 read more