The Burlington Free Press from Burlington, Vermont • Page 7

Zbt 3urlington Jfxtt press FTTTTTTff 2,470.60 QIU1IU 1,446.99 For updated quotes, send text message with STOCKTICKER 13,000 INESS 12.500 (such as IBM) or FUND TICKER (such as AGTHX) to 44636 (4info) 12.000 1.500 JANUARY FEBRUARY 11.000 Tuesday, February 6, 2007 865-0942 or (800) 427-3124 business bfp.burlingtonfreepress.com Page 7A TFl)ir rri -JmV i Moody's gives highest bond rating to Vermont SHARE YOUR INSIGHT VLBizForum The Burtngton Free Press' forum for the business community, can be found by going to www.burtingtonfreepress.com 1WEB Moody's analyst Nicole Johnson credited Vermont's "strong history of financial management," efforts to reduce its debt and "a stable, diversifying economy that lacks the kind of volatility that can make revenues swing dramatically up or down and increase financial uncertainty." Douglas and Spaulding cautioned that the state could not rest on its laurels. It would be bad to slip, Spaulding said, because, "It takes a long time to get the (bond rating) agencies to recognize the characteristics that you have that will allow them to give you an A key part of the effort to impress Moody's was to convince the firm about the strength of Vermont's economy. State officials had Moody's representatives meet with legislators and tour businesses including IBM in Essex Junction and Green Mountain Coffee Roasters in Waterbury as part of their campaign. Douglas and Spaulding have long played roles in the efforts to get Vermont's finances on track. Douglas was treasurer for eight years before being elected governor; Spaulding was a longtime member and chairman of the Senate Appropriations Committee.

Douglas, a Republican, and Spaulding, a Democrat, said leaders of both parties deserved credit for the achievement. Spaulding cited the work of former state Auditor of Accounts Randy Brock in producing annual financial statements in a timely fashion. He and Douglas cited the fiscal prudence of former Govs. Richard Snelling and Howard Dean. Douglas said he appreciated the fact that "legislators have been very, very diligent over this time," in keeping Vermont's books in balance during the years-long effort to boost the state's credit rating.

said. Moody's boosted the rating from its second-best, Aal. Two other investment houses Fitch and Standard Poor's also announced bond ratings Monday for $30 million in bonds the state plans to sell this month. Both kept Vermont at their second-best rating, AA. Spaulding said the rating upgrade by Moody could save the state between $250,000 and $1 million a year in interest, depending on interest rates.

He and Douglas vowed to continue working to persuade the other two rating houses to give Vermont their top grade. offer all Jg State could save millions in future loans By David Gram The Associated Press MONTPELIER Years of careful fiscal management have paid off for the state of Vermont. Moody's Investors Service gave its top bond rating to the state Monday, a move that could save state government millions of dollars on future borrowings. It's the first time Vermont's bonds were rated Aaa by Moody's since 1972, to Gov. Jim Douglas and state Treasurer Jeb Spaulding VPR to Addition will produce more culture, news programs by summer By Leslie Wright Free Press Staff Writer COLCHESTER Vermont Public Radio plans to split into two distinct stations within the next year, in a major revamping of the nonprofit's on-air offerings.

The changes are aimed at pleasing a membership divided over the amount of classical music programming the public radio station should air Vogelzang and expanding VPR's appeal, said Mark Vogelzang, president. "There's a clear interest on the part of our listeners to have more NPR and information and cultural programming," Vogelzang said, making reference to National Public Radio. "We are going to make sure our classical listeners have a place and a home, too." Within the next 12 months, VPR plans to offer a separate classical station that will be heard in Chittenden County. As soon as this summer, however, listeners will notice programming changes. The local news program "Vermont Edition" is set to expand from once a week to five days a week.

The station is adverting to hire a host and two producers in anticipation of the change. VPR is broadcast across the state on various signals. The local signal is WVPS-FM 107.9. The classical station will move to a new location on the dial that has yet to be determined, Vogelzang said. Classical music host Walter Parker samples a piece he is considering to air at Vermont Public Radio's offices in Colchester.

The station will soon have a frequency just for classical music and a second for news. Emergency farm loans available Last year's heavy rains create need Free Press Staff Report Farmers hurt by last year's wet summer are being offered the opportunity to apply for USDA Farm Service Agency emergency loans. Excessive rainfall, in addition to increased costs, has created a mix of problems for many farmers, the agency said. The amount of credit the Farm Service Agency can offer is based on the three-year average of a farm's performance, compared with the amount realized during the disaster period. The loans are offered at 3.75 percent and are typically repaid in one to seven years, said Susan Monahan, a farm loan specialist at the Farm Service Agency's Colchester office.

Farmers who suffered at least a 30 percent loss are eligible for emergency loans. Emergency loan applications DEADLINES: Franklin, Lamoille, Orleans and Washington counties: Feb. 23; Caledonia, Essex, Orange and Windsor counties: April 23; Windham County: May Addison, Bennington and Rutland counties: May 14; Chittenden and Grand Isle counties: June 1 1 FOR MORE INFORMATION: click on "farm loan programs" at www.fsa or call your local Farm Service Agency office: St. Albans, 527-1296; Newport, 334-6573; Middlebury, 388-6748; White River Junction, 295-7942. station RYAN MERCER, tree Press VPR HEADQUARTERS: Colchester ESTABLISHED: 1977 PRESIDENT: Mark Vogelzang ANNUAL BUDGET: $6 million for fiscal year 2007, which started in October EMPLOYEES: 41 MEMBERS: 23,000 LISTENERS: 180,000 VPR SIGNALS: 94.3 FM in Bennington; 88.5 FM in St.

Johnsbury; 107.9 FM in Burlington; 89.5 FM in Windsor; 94.5 FM in Brattleboro and 88.7 FM in Rutland; 95.1 FM in Sunderland Manchester; 92.5 FM in Manchester; 95.3 FM in Middlebury; 94.1 FM in Montpelier and VPR World Channel 88.7 FM in Colchester VPR CLASSICAL SIGNALS: 88.1 FM in Norwich; 103.9 FM in Hanover; 93.5 in Bennington; 106.9 FM in Manchester; 99.5 FM in Middlebury; 99.5 FM in Newbury; 106.9 FM in Woodstock classical technology allows for separate channels at one spot on the dial, in this case 107.9. Currently the channels are VPR, the all-classical station and programming from BBC World. Splitting into two stations makes sense, said Karen Marshall, a former radio executive with Clear Channel in Vermont. Trying to please everyone with one station doesn't make sense in today's world of targeted marketing, Marshall said. "The trends when you look across media and content and how and where it's delivered and how the listener and viewer interact with content, it's.

all about me and how I customize entertainment to myself," said Marshall who is northern New England manager for Comcast Spotlight, the cable operator's advertising division. Contact Leslie Wright at 802-660-1841 or f. Wall Street trades narrowly mixed as lingering concerns about the economy offset better-than-ex-pected sales from Wal-Mart Stores Inc. and a flurry of acquisition activity. Weakness in the manufacturing sector, especially the auto industry, may be dampening the nation's economic prospects, but the bigger services sector appears to be more than making up for it.

Oil prices slipped to finish below $59 a barrel as traders back off from trying to breach $60. Automotive supplier Lear Corp. said a group affiliated with billionaire investor activist Carl Ichan offered to buy the company for $36 per share, or about $2.61 billion. Simon Property Group Inc. and Farallon Capital Management LLC offer $24 per share in cash, or more than $1.5 billion, for mega-mall developer Mills Corp, topping a previous $1.35 billion deal from Canadian investor Brookfield Asset Management.

Eastman Kodak Co. elbowed its way into the crowded inkjet-printer market, unveiling a trio of home printers that produce documents and photos using ink cartridges that cost roughly half as much as the competition's. The Federal Trade Commission issued a ruling in the lengthy antitrust case against Rambus setting the maximum royalty rates the memory chip maker can charge on four semiconductor designs. The judge due to rule on Microsoft appeal against the European Commission's antitrust order said he hopes to publish his decision before he leaves office in September. Prosecutors filed new charges against former oil baron Mikhail Khodor-kovsky, who has spent four years in a Siberian prison.

The pursuit of the tycoon showcases President Vladimir Putin's highly successful campaign to tame Russia's oligarchs using Russia's politically pliant justice system. Poultry farmers around Europe were on guard against the possible spread of bird flu across the North Sea from infected Britain, fearing the disease could be carried by wild birds. From wire reports Dollar and precious metals Key currency exchange rates Monday in New York. Exchange Perennial favorites like "Car Talk," "A Prairie Home Companion" and non-classical music shows will remain on the VPR news station. In the place of classical programming, that currently takes about six hours of programming during the day, shows like NPR's newsmagazine "Day to Day" will be aired, Vogelzang said.

For this fiscal year, which started in October, the changes will add $400,000 to VPR's operating costs. The nonprofit's annual budget is $6 million. All-classical programming is not new for VPR. In 2004 VPR branched out with an all-classical station, WNCH 88.1 FM in Norwich. The classical station is heard in Bennington, Hanover, N.H., Manchester, Mid-dlebury, Newbury and Woodstock.

For those with HD digital radios, a new technology, the separate station concept is already on air. The digital VERMONT BUSINESS HIGHLIGHTS INCORPORATIONS CALENDAR PEOPLE David Donegan has been promoted to membership manager at Vermont Public Television, the statewide public television network. He is responsible for such activities as membership campaigns and events that foster relationships with viewers. Viewer contributions are the largest source of support for VPT's programs and services. Donegan joined VPT in 1999 as a member services representative.

In onN Mortgage originate loans, Doug Mcdonald, New York, N.Y., Dec. 19. Active Periodicals magazine subscription, Greg Orr, Deerfield Beach, Dec. 20. Davis Vision third party administrator, Joseph Carlomusto, Plainview, N.Y., Dec.

19. Executive Order IT consulting corporation, Alan Edmunds, Sunderland, Dec. 20. Burlington Bocce Club playing bocce and helping others, Zander Ponzo, Burlington, Dec. 21.

Angel Flight Vermont charitable, North Andover, Dec. 19. USP Assurance writing insurance and reinsurance, Dec. 22. Lawrence Lober Electric design, devise, invent, manufacture, Bellows Falls, Dec.

21. Northern CHC own and operate real estate, Richford, Dec. 21. MKG ATM lawful business, Dec. 21.

OC IT US computer consulting services, Burlington, Dec. 21. C.J.'S Roofing Essex, Dec. 21. Mask Stowe, Dec.

21. Red Wagon Plants Dec. 21. Equine Hoof Care farrier service, Donald A. Shedd, Warrens-burg.

N.Y.,Dec. 21. Irving Oil Terminals manage marine terminal operations, Kenneth Irving, Portland, Main', ec. 21. DB Private Wealth ronments, South Burlington.

846-5617. Vital Links BNI: a.m., Vermont Technical College campus, Wil-Uston. 233-1965. "Starting Your Own Business: a Beginner's Guide and 1-4 p.m., GBIC, Burlington. Presented by the Vermont Small Business Development Center.

$35. Registration: www.VtSBDC.org Economic Outlook for Vermont and on the Global Front: 5:30 p.m., Windjammer Conference Center, South Burlington. Jeff Carr, vice president and economist of Economic and Policy Resources Inc. Event presented by AP-ICS and ISM-VT. Carr is vice president and economist of Economic Policy Resources Inc.

$20 members; $25 non-members. Reservations: APICSglobalnetisp.net TODAY "Financial classes, beginning today, Burlington. Morning and evening sessions in budgeting. Offered by CVOEO Growing Money. Free to low- and moderate-income Vermonters.

Registration: 860-1417, Ext. 104. "Managing Your Wealth In the New a.m. Smith Barney, South Burlington. Feb.

6, Estate Planning and LTC. Reservations: 652-6000. Catamount Business Network-Business Network International (BNI) Chapter: a.m., Hampton Inn, Colchester. 654-7646, Ext. 161.

Champlain Valley BNI: a.m., Tuscan Kitchen, South Burlington. 343-9048. Green Mountain BNI: a.m., Office Envi 2003, he was promoted to the position of pledge events coordinator. He is a graduate of St. Michael's College and lives in Dollar equals rate Yen 120.35 Euro 0.7735 Pound 0.5103 Canadian dollar 1.1815 Price Metal (troy oz.) NY Merc Gold $650.90 NY Merc Silver $13,515 Treasuries 30-year bond 4.91 To learn more about business people In the community, go to to www.burlingtonfreepress.com.