Our recent Board planning retreat felt excitement around leveraging the Roundtable’s preeminent position as Vermont’s long term think tank to suggest innovative solutions across many areas.  Success here will further our vision for Vermont to be the best place to do business, be educated, and live life.

Imagine two YouTube videos of Vermont.  Both are set some time down the road; could be 2020, or maybe 2030.  One video shows a Vermont where, during tight budget times of 2012, the highest social return on investment programs were funded.  Positive feedback loops from those efforts caused Vermont to rise in state rankings on those measures we weren’t already leading.  The second (perhaps in black and white) shows a Vermont, where during those same times protected interests received the largest investments, with less regard for the citizens of the state.

Let’s get to work on making the rosier Vermont video a reality.  Did a couple of thoughts in that regard just pass through your head?  Write them down and bring them to our winter meeting.  We will be collecting these; discussing them; drawing out themes, and maybe even conclusions; all this coming Thursday afternoon.

Fully one out of four VBR members joined within the last two years.  We welcome the strengths, interests and perspectives of our newest members and encourage them to jump in with both feet at these twice annual meetings, and in our working groups covering education, health care, and energy, among others. We will have the Governor joining us at the end of the afternoon, having just delivered his take on state investments.  Let’s use this opportunity to personally convey our point of view to him and the Speaker of the House, who will also be in attendance.

Finally looking beyond this week, we are planning a big bash on June 14^th to culminate our 25^th anniversary.  We have great speakers lined up, and plan to announce our scholarship fundraising for the Nordic Educational Trust. Think about a table full of folks you’d like to bring to this wonderful event.  Dinner is open to friends and colleagues of members.

Again, I look forward to seeing you on the 12^th.

The state of this Roundtable is strong, too. Despite suffering tremendous hardships during the Great Recession and the long recovery, key indicators show a healthy membership is at work again. Over the past two years the Roundtable has added 28 percent new members; the strongest recruitment and renewal period in our 25 year history. Attendance at our twice annual membership meetings has increased during that same period; a witness to the renewed interest of CEOs to again reach out and engage with their peers around the state as business resumes a sense of “new normalcy.” And the sales, CapEx, and employment forecasts among our members have, for the second quarter in a row, continued their upward trajectory. Sure, the recovery will be a long and slow one, but employers are hiring again, companies are investing in their physical plant and consumers are buying more of our members’ services and products. Now if it would just snow!

Another sign of optimism is the way in which Governor Shumlin has incorporated his “lessons learned” from Tropical Storm Irene (TSI) into more than just his policy agenda for 2012; it’s reflected in his longer-term view of the functioning of state government. The sense of urgent purpose, focus on efficiency and intent to break down barriers in the TSI rebuild by members of his Administration and partners has presented Vermonters with a new way of looking at problem-solving. If we can all agree that this is the new way that we’ll tackle our future challenges, then we’ll be well-prepared indeed.

In regions all around Vermont, CEOs have exciting stories to tell about developing new markets, growing their workforce, and deploying new technology.  So let us bring that energy and excitement to our annual meeting and to all such member gatherings in 2012. As the preeminent CEO-led business organization in Vermont, the Roundtable is uniquely poised to leverage our experiential capital for the benefit of all Vermonters. Let your rising tide float the boat of others.

The Roundtable is pleased to announce the following directors who will be ratified by the full membership at the upcoming Annual Meeting. We thank them in advance for their commitment to the Roundtable and for the important work that they will do on behalf of the entire membership during their terms of service on the board.

 Jo Bradley, CEO, Vermont Economic Development Authority

Ms. Bradley became Chief Executive Officer of the Vermont Economic Development Authority (VEDA) in February 1997. VEDA is Vermont’s economic development finance lending authority with assets of approximately $140 million. Ms. Bradley’s previous professional experience includes Deputy Secretary of the State of Vermont Agency of Commerce and Community Development; Commercial Loan Officer for Vermont Economic Development Authority and Vice President, Solomon Brothers, Inc. in Boston. Ms. Bradley received a B.A. (Honors) in History from Johnson State College; M.B.A. in Finance from the Boston University School of Management in 1981. Ms. Bradley also completed the Program for Senior Executives in State Government at the John F. Kennedy School of Government at Harvard University. She has served on numerous State and local boards.

Don Gilbert, President and CEO, Vermont Gas Systems

A. Donald Gilbert, Jr. serves as President and Chief Executive Officer of Vermont Gas Systems Inc., a subsidiary of Gaz Metro Limited Partnership (formerly, Gaz Metropolitain & Company Limited). He has also served as a utilities analyst with the Vermont Public Service Board and as project engineer with the Vermont Public Power Supply Authority. Mr. Gilbert serves as a Trustee of Fletcher Allen Health Care Inc.

Cindy Shuman, CEO, Resolution, Inc.

Resolution is a fully integrated turnkey E-commerce services partner, offering web commerce design & integration, channel-specific call & e-mail customer care centers, Media on-demand manufacturing, product design and on-demand manufacturing, fulfillment and logistics to major US and international brands. Major clients include Discovery Education, General Mills, Pepsi, Mountain Dew, IZZE, AMP, CBS’ Star Trek and Star Fleet Academy. Resolution also specializes in mission-driven commerce designing and operating e-commerce stores for Vermont Life Magazine, The Nature Conservancy, the ASPCA, and major public broadcasters such as Pretty Good Good, WNET-TV and WXPN-FM.

Win Smith, President, Sugarbush Resort

Win Smith is Chairman and CEO of Summit Ventures NE, LLC which owns Sugarbush Resort. He also serves as President of Sugarbush. From 1974 to 2002, Mr. Smith was employed with Merrill Lynch & Co. in senior management positions including Executive Vice President, Merrill Lynch & Co., Chairman, Merrill Lynch International and Member of the Executive Management Committee. In these capacities, he spent the majority of his time outside the U.S., traveling to over eighty countries. As Chairman of Merrill Lynch International, Mr. Smith led one of Merrill Lynch & Co.’s four business units with 9,000 employees, over $2 billion in revenues and client assets of $180 billion. He developed Merrill Lynch & Co’s Global Strategy and managed the Global Geographic matrix. His current directorships include Eaton Vance Corporation, AGF Management Ltd., Richardson GMP Limited, Summit Ventures NE, LLC (Sugarbush).

Pennie Beach, Basin Harbor Club is a founding member of the Vermont Business Roundtable, beginning in 1987 and she is ending a her second rotation on the Board. During her tenure, Pennie has actively participated in our efforts to strengthen the Roundtable’s relationship with our Congressional delegation as well as The White House; she has attended periodic meetings, provided thoughtful comments on issues such as immigration law and workforce development that would strengthen the state’s tourism/travel/recreation industries.

Ellen Fallon, Langrock Sperry and Wool has been a member since 2003. She has served on the Board for six years and has chaired the Governance Committee since 2006. Under her leadership the Roundtable has expanded its categories of membership to include Associate Members, Retired CEOs, and Emergent Leaders, which reflect the changing nature of the Vermont business demographic. She has helped recruit a constellation of outstanding members and has served on the task force that produced the report entitled, “Becoming the Knowledge State: The Vital Importance of Higher Education in Vermont’s 21^st Century Economy”.

Pamela Mackenzie, Comcast (retired) has been a member since coming to Vermont in 2006. Though she served on the board for a brief period of time, Pam has been a very active member. Her expertise in the telecommunications world has benefited the Infrastructure Working Group, and her commitment to education, combined with her leadership abilities, are reasons why Governor Shumlin appointed her as Chair of the Vermont Telecommunications Authority, which is knocking down barriers to educational attainment by bringing connectivity to the final frontiers of Vermont. And Pam was also this year’s featured guest speaker at the Roundtable’s 2011 Ladies Leadership Luncheon.

Mark Neagley, Neagley and Chase Construction has been a member since 1995. He has served on the board for six years, chaired the Health Care Working Group for three years (2003-05) and also represented the Roundtable on the health care reform effort entitled, Coalition 21. He continues to actively serve on the health care working group. Mark is also deeply committed to education: he was a member of the Nordic Education scholarship selection committee and advocates passionately for investment in young children.

Jeff Shields, Vermont Law School has been a member since 2004 when he became the seventh dean of the law school. He has served on the board for six years. Jeff’s commitment to education – beginning with our youngest Vermonters – has led him to be one of the Roundtable’s strongest supporters of our efforts to achieve universal access to preK education for all 3 and 4 year olds.

Bill Stritzler, Smugglers’ Notch Resort has been a member since 2001. He has served on the board for seven years; two years as chair. Bill’s passion has been education: he chaired the Roundtable’s task force that produced our seminal policy report entitled, “Having the Courage to Change”; he has been a steady and wise voice for public investments in our youngest Vermonters, and for positioning education investments as economic development strategies for Vermont. Bill has chaired two of our five “Pulse of Vermont: Quality of Life” surveys (2005, 2010), which highlight the central role of educational attainment in Vermonters’ quality of life.

Effective January 1^st and for members in good standing, we invite you to select a colleague from within your company for Associate Membership and, in doing so, provide him/her with the opportunity to develop meaningful professional relationships and understanding of key policy issues within the environment of Vermont’s preeminent CEO-led civic welfare organization. According to the bylaws,

Such Associate Member shall be permitted to participate in all Roundtable functions and events but shall have no vote in the affairs of the Corporation. Such Associate Member is not intended to be a proxy or attendance substitute for the Regular Member but is intended to accompany the Regular Member at functions or events, to permit the Regular Member to mentor the Associate Member with respect to Roundtable activities. Such Associate Member shall possess the unquestionable integrity, strong leadership qualities, and dedication to the public good which are consistent with the attributes of Regular Members.

Please contact the Roundtable with your questions or to be provided with a nomination form.

The meltdown of the EU, Occupy Wall Street, and the failure of the U.S. Congressional Super Committee, each raise questions about the lack of global leadership and the inability of contemporary organizations to address critical issues. Why? Clearly, we have a crisis of leadership. At the same time, over 50% of the world’s population is under the age of 25, giving us an opportunity to think anew about cultivating a generation that can be more effective. World Learning President and CEO, Adam Weinberg, will draw on World Learning’s work in over 70 countries to discuss the changing nature of leadership, the pitfalls and opportunities of modern institutions, and what we can do to ensure prosperity in the years ahead.

With a global network of world-class educators, development specialists and trainers, World Learning programs unlock the potential of people to create a more just, peaceful, and sustainable world. Weinberg has expanded World Learning’s network to include nearly 200 programs with participants from more than 140 countries. Annual operating revenue at World Learning stands at approximately $108 million.

To register for the event, which will be held at the Doubletree Hotel, members and interested other parties are encouraged to click on http://vtroundtable.org/events/cultivating-global-leadership .

Now the Roundtable welcomes Don Gilbert, President and CEO, Vermont Gas Systems, as the new chair of this important working group. As a first step, Gilbert wishes to solicit ideas from the membership on issues of particular importance germane to this Working Group. If you are interested in energy, housing, permitting, telecommunications, transportation, or other related infrastructure issues, please consider joining this group. A calendar of meeting dates/times will be announced in February.  In the meantime, just notify sherra@vtroundtable.org

A focus group of Roundtable members was held, facilitated by Tim Volk, to drill into top-of-mind beliefs and values. The EWG provided the nuanced tweaks and delivered the finished product to the board for its planning retreat last fall where the manifesto was approved. This is how we now talk about the need to invest in education.

The Vermont Business Roundtable believes that…

• Education is the single most powerful catalyst for success in life.
  

• Education begins at birth, continues through life, and never really ends.
  

• Education is hard work, a marathon not a sprint.
  

• For Vermonters to reach their full potential, we, the community of Vermont, need to invest in education early and often—for our kids, and their kids, and their kids.
  

• Education leads to prosperity, both individual and community.
  

• The continued enrichment of our state rests on an innovative, vibrant, ever-improving education continuum.
  

• The world is our classroom and,
  

• Education leads to better democracy.
  

That is why for 25 years the Vermont Business Roundtable has advocated for and supported innovation in education in its many forms.

Vision Award Recipients David Coates (2007) & Fred Hackett (2009)

Five years ago in recognition of our 20^th Anniversary, the Roundtable Board of Directors established the Vision Award to pay tribute to a Vermont resident who had a lifelong commitment to the ideals expressed in our vision statement to “Make Vermont the best place in America to do business, be educated, and live life.”

To date, the Roundtable has been proud to present the Vision Award to two individuals: David Coates (2007) and Fred Hackett (2009).

As we ramp up our planning for our 25^th Anniversary Celebration, the Board of Directors extends an invitation to members to nominate someone meeting that high standard. The award will be presented at gala dinner during the evening of June 14, 2012.

Nominations, including a brief description of the candidate’s contributions, must be submitted in writing to Lisa Ventriss at lisa@vtroundtable.org. Deadline for submissions is January 30^th.

According to Roundtable President, Lisa Ventriss, “When viewed in the aggregate, these results point to an economy that is steadily improving, albeit slowly and with the concern attributed to key policy and political issues.  Overall, the positive trends continue and the negative trends are decreasing.“ More than 60 percent of Roundtable CEOs expect to see their sales volumes increase; another 40 percent forecast increases in their capital expense budgets; and, 43 percent anticipate a larger workforce in the next six months. In all three cases, the amount of CEOs responding with negative outlooks is less than 10 percent.

Chair Steve Voigt said “The modest uptick on all three of these key indicators is a positive sign for Vermont businesses and the strength of our economy into 2012. For the second survey period in a row, CEOs have been indicating an increase in economic activity that bodes well for Vermonters. ”

The Roundtable’s CEO Economic Outlook Survey provides a forward-looking view of the economic assumptions and attitudes of chief executive officers of 118 of the state’s top employers with an aggregate economic impact of $292 billion, with over $1.8 billion in corporate philanthropy, and employing more than 10 percent of the state’s workforce.  The members represent Vermont’s agriculture, construction, education, health services, finance, real estate, insurance, hospitality/leisure, manufacturing, information, utilities, professional/business services, wholesale trade, and non-profit industries.

The response rate for this quarter was 62 percent.  Historically, rates have varied from 35 to 73 percent.

1. How do you expect your company’s sales to change in the next six months?

Totals may not equal 100 due to rounding.

 2. How do you expect your company’s capital spending to change in the next six months?

Totals may not equal 100 due to rounding.

3. How do you expect your company’s employment to change in the next six months?

Totals may not equal 100 due to rounding.

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The Roundtable is a nonprofit, nonpartisan organization of 118 CEOs of Vermont’s top private and nonprofit employers, representing geographic diversity and all major sectors of the Vermont economy, with an aggregate economic impact of $292 billion, over $1.8 billion in corporate philanthropy, and employing more than 10 percent of the state’s workforce. The Roundtable is committed to sustaining a sound economy and preserving Vermont’s unique quality of life by studying and making recommendations on statewide public policy issues.

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