Cost-conscious additions

first_imgAdding nuts to products can be an expensive business. So while prices escalate, a cheaper option than some of the exotic tree nuts could be using peanuts. Even cheaper than whole nuts, peanut flour was recently launched into the UK with a variety of US-style applications touted. It can be used as a healthy, protein-rich ingredient in a range of goods, including cereal bars, cakes, biscuits and confectionery, diet and nutritional bars. It can also control the fat migration of the high fat centres, as well as enhance flavour and texture. Extracted from the oil of roasted peanut seed, peanut flour normally contains around 50% protein.Organic peanut flour is brand new to the UK market, having been launched in May 2008 by the Golden Peanut Co. “Whether the flour comes from light, medium or dark roasted peanuts – which impart a light to a much stronger flavour profile accordingly – the roast level has no effect on the flour’s functionality. However, the stronger flavoured, darker roast is ideal for enhancing the flavour of fortified, healthy baked products,” says Bruce Kotz, vice-president at Golden Peanut Co.== Top tip: peanut flour ==l Peanut flour can be used in anything from cookies and muffins to bagels. Offering the same flavour as peanut butter, it is also lower in fat (either 12% or 28% fat), and therefore useful for reducing the fat content and increasing the protein content of healthier baked goods. Peanut flour is said to work very well to colour and flavour products. Of course, it cannot be exchanged for ordinary flour, as it does not contain gluten, so has no rising properties. Most bakers using this ingredient would substitute a portion of their regular flour with peanut flour – at typically a 25% rate – to give the baked product a peanutty flavour.Taste, texture and appearance alone no longer form the basis of a purchase decision, as consumers become more and more focused on the nutritional content of food. American-style products, such as bagels, cookies and muffins, are particularly suited to fruits. Traditionally, fruit has posed numerous difficulties to bakers, including poor piece identity and moisture retention. In line with this, Ocean Spray ITG has developed Berry Fusions, currently available in blueberry, strawberry, raspberry, cherry, orange, mango and mixed berry, as a natural alternative to artificial gums and jellies. Unlike other fruits, their shells are quite tough and the fruits remain intact, despite rigorous industrial processes, says Kristen Girard, principal food scientist at Ocean Spray. “They also offer consistent supply and stable pricing.”The fruits do not migrate or absorb moisture over time, nor bleed colour. Sweetened dried cranberries, he says, have the same process tolerance.== Top tip: fruits ==l One option is to blend pieces of the named fruit with Ocean Spray’s BerryFusions Fruits, allowing for flexible labelling and reduced production costs. For baked goods such as muffins, breads, cookies and cakes, a recommended inclusion rate is 15-20% by weight. This gives the baked product the desirable fruit distribution throughout.While the ’bread with bits’ bakery market has boomed over the last two years, the flip side of that success has been seed price escalation, which may even be holding back the growth of the category. “Bakery seeds are basic agricultural crops, just like grains, and have not been sheltered from price rises, with some prices increasing over 200% in the last 12 months,” says Alan Marson, commercial director of Holgran, a Premier Foods innovation arm, which also services businesses throughout the bakery sector. He says Holgran entered into a joint collaboration with bakery seed trading partners Kimpton Brothers, to encourage the cultivation of more UK-grown bakery seeds and to overcome the reliance on overseas sources. “There is still more growth in the sector, but it is being slowed down by these escalating costs,” he says.== Top tip: seeds ==l There are so many uses for bakery seeds across the category yet to be explored – not just sliced bread or rolls with sprinkles on top. Pizza, pastry, tortilla, crackers, crisp breads, biscuits and croissants all lend themselves to seed inclusion with the right product mix.last_img read more

News story: Sellafield hits the road to grow local supply chain

first_imgThe company is taking its ‘Tier 2’ suppliers on a road trip around the county to build links with small and medium-sized enterprises (SMEs).The aim is to get more local SMEs involved in Sellafield’s £2bn a year decommissioning programme.The first mission will take place on Monday, July 16 in Allerdale and Copeland.It aims to take in 6 companies. SMEs are being urged to volunteer to be one of the destinations.Similar events are also being arranged for Carlisle, Barrow, Penrith and South Lakes, and Warrington.John Berry, Sellafield Ltd supply chain manager, said: We’re also keen to dispel the myth that our tier two contractors are only looking to procure construction and engineering services. Our trade missions are a chance for businesses to get their foot in the door of the multi-billion pound nuclear decommissioning market. The unqiue twist here is that rather than those companies coming to us and our contractors, we are going to them. Businesses in Allerdale or Copeland wishing to express an interest in hosting a visit should email: [email protected] before July 6. Cumbria Trade Mission We want to make sure as many companies as possible, regardless of size or sector, benefit from the unique opportunities in the Sellafield clean-up programme. This file may not be suitable for users of assistive technology. They’ll be able to show us around their premises, demonstrate their capabilities and talk direct to the people who manage these multi-million pound frameworks and contracts.center_img We’re delighted our tier two partners are supporting this; it’s clear they share our passion for showcasing the brilliance of our local SMEs. In reality, they buy a full range of professional and ancillary services like training, hotel rooms, stationery – you name it! PDF, 931KB, 1 page Request an accessible format. This is a really great way for us to showcase the excellence in our SME community. Emma-Jayne Gooch, Sellafield Ltd’s head of supply chain and innovation said: If you use assistive technology (such as a screen reader) and need aversion of this document in a more accessible format, please email [email protected] tell us what format you need. It will help us if you say what assistive technology you use.last_img read more

Australian baker invents the ‘glonut’

first_imgThe glow-in-the-dark doughnut was created by Christopher Thé for his Black Star Pastry bakery in Sydney. Created for the Vivid festival of light, which is taking place in Sydney at the moment, the glonuts (glow-in-the-dark doughnuts) may look radioactive but apparently taste delicious.Thé said the inspiration for the glonut came while walking around Vivid last year: “I was thinking hard about a way to tie in food with lights,” he said. “And glow-in-the-dark popped into my head.”He added: “It was an amazing challenge we just couldn’t resist!” and noted that it took nearly a year to make sure the icing would glow.“The ingredient that makes the icing glow is made from vitamin B, which in itself is quite acidic,” he said.He then decided to ice the doughnut in a yuzu glaze, which is also quite tart. (Yuzu, which looks like a cross between an orange and a lemon, is a citrus fruit that is often used in Japanese cuisine as a seasoning.)The doughnut itself is “like a brioche, but with half the butter”.last_img read more

Tedeschi Trucks, Lettuce, Twiddle & More Highlight Levitate Festival [Audio/Review/Gallery]

first_imgOn Saturday, July 9, the Marshfield Fairgrounds in Massachusetts had 10,000 people descend upon the venue for the third annual Levitate Music and Arts Festival, on an unseasonably cool summer day. With its roots firmly planted in the surf and skate scene, the sold out festival has grown by leaps and bounds over the course of its short time on the circuit.The festival not only featured music, but had a variety of activities around the grounds for attendees to take in. Yoga painting was offered in the afternoon, in which poses were created on large canvases set up on the lawn. A drum tent was available for kids to bang away and create their own music. Skate boarders had a ramp to flip and twist away on. Food trucks galore ran the edge of the festival, ensuring no one would walk away hungry. Vendors of all kinds lined the interior area between stages, offering a reprieve from the dancing while taking in some shopping.Three stages were on the grounds. Music would only be played on one stage at a time throughout the day, so attendees would not have to worry about missing their favorite band. Ron Gallo opened up the fest and performed under grey skies that teased at rain, but the clouds kept their hold on the weather. This band was a fusion of punk with rock and roll old school vibes that kicked up the heat and got the crowd moving. Next in line was The Movement, who opened up the fest at the second stage on the other side of the grounds. They brought heavy dosed reggae jams and kept the venue on their feet. Moon Taxi started off light and easy before blowing right into a massive jam. The heat from their instruments evaporated the light mist falling from the sky. At one point, Wes Bailey, on keys, took the performance on lift-off and successfully melted faces as he pounded at the ivories. When their set finished, fans were wide awake and crammed with energy.Twiddle flowed right into their hour long set after Moon Taxi dropped their last note. They rolled along with tight jams throughout. Mihali Savoulidis lit up his guitar and blew the doors off with crushing improvisation. Midset they noodled around on stage, throwing out teases, before storming into “Syncopated Healing.” Piano cooled things off with a pretty flow during “Hattie’s Jam,” before bringing the heat higher and higher. Their set did not disappoint the crowd as people danced elbow to elbow. The day was filled with hula hoops, skateboards, music and colorful people, which created a menu of tastes for the eyes and ears. The continuous music on three stages, with bands starting as soon as another one stopped, delighted the grounds with non-stop tunes for everyone. Overall, Levitate Festival is not one to be missed and should be added to your list for next year’s must see’s.Words by Sarah Bourque. Follow on TwitterPhotos courtesy of Taj Mulhall Photography, audio recordings all via taper Mark Van Blunk. Tribal, mystical tones brought Nahko and Medicine For The People to the stage. Words of wisdom and peace were spoken by singer, Nahko Bear, as their set opened before saying “now let’s rock the fuck out” and blazing into their performance. The sun heard his words and finally came out to light up the grounds, bringing a much needed reprieve from the chill in the air. Horns and violin added extra spice to the vibe. An extraordinarily moving intro for their song “Great Spirit” left the audience speechless, as a timely hawk soared in circles among the thermals above the stage. Their entire set kept the audience hypnotized and in awe.Bringing the audience back down to earth, Stick Figure wasted no time as they busted out reggae tones. A chill, laid back peaceful vibe was thrown out while painting yoga was happening at the back of the crowd. One festival goer brought a gigantic cardboard cut out of an NFL player on a stick and had it bouncing around to the tunes, as a Scooby blow-up balloon was twirled around the crowd. Good times were clearly being had by all.North Mississippi Allstars started off by slamming into a massive set full of high energy. The crowd was fueled by their intense tunes, crammed with jams that flowed from full on rocking to smoother blues.Lettuce blasted into their set and dropped the funk like nobody’s business. Guest guitarist, Jeff Lockhart, filled in while Adam Smirnoff recuperated in the hospital. Their jams kept the audience on their feet, as it was impossible to sit still while they took the stage. Special guest, Alecia Chakour, showed up to perform as she belted out the vocals to “Do Your Thing.” Chakour was more of an artist at large, as she made appearances throughout the day with several of the acts.Los Lobos rocked their asses off during their set. Deliciously wrapping authentic flavors into their tunes made for one hell of a great performance. The accordion switched up to a lively mood, only to compliment the rockin’ vibe they set off. Rebelution took fans on a chill trip through their melodies. The funkafied reggae beats had the crowd getting sore feet from all the dancing. Juicy jams were thrown back and forth with the horn section, featuring a playful “Count Me In.” The threatening rain continued to stay away as evening set in while the crowd retained a chill mood as funky beats poured out from the band.Headliner Tedeschi Trucks Band ended off the day’s events with a smoking hot performance. Early on, Los Lobos guitarist, David Hidalgo, joined the group for a triple guitar sensation. Sizzling jams between Derek Trucks and Hidalgo brought goosebumps to fans, before cooling down with tender tones, only to once again, take the notes on blast off. Guitarist Luther Dickinson, of North Mississippi Allstars, then joined the group for a slamming sensation and just tore it up. Susan Tedeschi, who grew up in the local area, dedicated George Jones’ country tune, “Color of the Blues” to her grandfather. Their set finished off with a bass bomb heavy funk/jazz tune, filled with mysterious horns and psychedelic vibes, stepping away from their usual expected melodies, before encoring with The Beatles, “With A Little Help From My Friends.”center_img Load remaining imageslast_img read more

“The 60 Second Phish Project” Might Be Our New Favorite Instagram Account

first_imgLast night, while scrolling through the jammiest corners of the Internet, I was pointed to an account on Instagram called “The 60 Second Phish Project.” With the handle @cowphunk, I knew this could only be good news. It only got better.With Instagram recently increasing video length to 60 seconds, it was only a matter of time before someone posted 60 second Phish clips for the world to enjoy. Take a look at the two most recent posts for some prime examples that live up to the “cowphunk” name. As a Seinfeld fan, this one is my personal favorite: However, the real beauty of “The 60 Second Phish Project” lies in the weekly mash-up posts. Instead of 60 seconds of Phish, we get 60 seconds of Phish’s music matched up with footage from classic films. Here are a few recent examples, including mash-ups with E.T. and Jurassic Park.center_img Please, take a few 60 second breaks and enjoy the beauty of The 60 Second Phish Project.last_img read more

Oteil Burbridge Announces “Evening Of Conversation & Music” With NYT Journalist Alan Paul

first_imgToday, Oteil Burbridge, bassist for Allman Brothers Band and Dead & Company, announced that he’d be part of an intimate live interview hosted by New York Times best-selling author and journalist Alan Paul. Slated to take place at New York City’s The Cutting Room on January 13th, 2018, Backstory: An evening of conversation and music with Oteil Burbridge is a special event presented by BackStory Events and Guitar World Magazine. As Oteil described in a Facebook post, “I will join author and journalist Alan Paul for a live interview about my new album and share stories from the road.”In addition to this revealing interview, attendees will also get the opportunity to participate in an audience question-and-answer and meet-and-greet. With limited seating for 240 people, tickets are likely to sell out fast. Grab yours before it’s too late here.last_img read more

Pushing back

first_imgThe Posse Foundation may sound like something out of the Wild West, but it’s actually a unique nonprofit that helps promising but economically disadvantaged kids to prepare for and then succeed in college, in part by strengthening ties with their college-bound peers, or “posses.” Since the organization’s founding in 1989, it has helped more than 3,000 students get into and graduate from top-tier universities.The group’s founder, Deborah Bial, Ed.M.’96, Ed.D.’04, spoke on “The Politics of Race and Class in Higher Education” at an Askwith Forum on Tuesday (Oct. 26) to a crowd that included current Posse students, who continued the discussion during an impassioned question-and answer period.“What is smart?” she began, showing slides of luminaries from Einstein and Al Sharpton to Mother Teresa and Marilyn Monroe.“Whether you think each of these people is or was smart is really not important,” she continued. “For sure we know each of these people is successful.” In this country, she added, we think “smart connects to success,” and education connects to smart.But so many people who are smart don’t show up in the measures we use to judge academic performance, Bial said, and those people are disproportionately black, Latino, or poor. She spent much of her lecture discussing who “deserves” to get into good schools in a nation that considers itself a meritocracy in which “we have a system that allows those who deserve it to succeed and move ahead.”With admissions systems based on grade-point average, school ranking, and test scores, not everyone is on a level playing field. The statistics are not new, but bear repeating. While fewer than 9 percent of whites live below the poverty level, about a quarter of African Americans do. The unemployment rate for whites is about half that of blacks and two-thirds that of Latinos. Though the national high school graduation rate is 71 percent, it drops to less than half that in low-income urban school districts such as Indianapolis. White students receive 72 percent of the four-year college degrees in America, though they make up only 65 percent of the population.“Now we’re going to add standardized tests,” she said. “You know, we really can’t put enough barriers in the way.” Many top-tier schools, she said, only consider students with SAT scores of 1,200 and above, a standard that lower-income students rarely meet, despite the success many go on to have later in life. Because selective institutions recruit their executives from top-tier schools, a “good ol’ boys” network has persisted in which more than 90 percent of highly placed executives are white.“There are initiatives under way to close the gaps,” Bial said. “But too often they define themselves by the deficiencies of the populations with which they work,” and as such, they “unintentionally creature further racial divisions.”She gave as an example a new National Merit Scholarships program, the National Achievement Scholarship. “We still end up with two programs,” she said. “One called ‘merit,’ one not called ‘merit.’ Diversity should not be a synonym for minority.” We need to expand our definition of merit, she said.“What do we do to ensure that people from all walks of life, from all backgrounds, get a chance to pursue the American Dream?” Bial asked. “Every segment of society has to do its part. Our politicians have to pass laws. Our entrepreneurs have to innovate. Our business leaders and foundations have to fund. Our community leaders and activists have to speak out. Our institutions of higher education have to be in the mix. . . . They have to broaden the way they see who is deserving.“We have to fix K-12,” she concluded. “But we can’t let generations slip through the cracks while we’re waiting. These kids are out there. They’re ready. They’re hopeful. And we can’t let them down.”The Askwith Forum was sponsored by the Harvard Graduate School of Education.last_img read more

Liz Weston: How to prioritize debt payments in the pandemic

first_imgCredit card hardship programs, paused student loans and mortgage forbearance have been lifelines for many Americans during the pandemic. Programs suspending or lightening debt payback loads helped many households stay afloat. Those delayed debts remain due, but rushing to pay them off could be a mistake. Some bills, like car payments or high-interest credit cards, should have priority. But with others, like federal student loans, you might want to wait and see if some debt will be erased. Knowing which bills to pay first and which to put on the back burner could be crucial in the months ahead.last_img read more

Vermont tax revenues ahead of targets, still shaky

first_imgVermont Secretary of Administration Neale Lunderville announced today that Vermont’s September tax revenue figures were above targets for the General Fund and Education Fund, but were slightly below target for the Transportation Fund.General FundSeptember is the third month of fiscal year (FY) 2011. General Fund revenues totaled $117.72 million for September 2010, and were +$8.75 million or +8.03% above the $108.97 million consensus revenue forecast for the month. Year-to-date General Fund performance of $281.65 million was +$12.44 million, or +4.62% ahead of year to date target of $269.21 million. This +$12.44 million overage is almost fully attributable to a one-time bank franchise receipt in August and likely one-time corporate income tax receipts this month as discussed below.The current forecast does not project a return to fiscal year 2008 revenue levels until fiscal year 2013.The monthly targets reflect the revised Fiscal Year 2011 Consensus Revenue Forecast approved by the Emergency Board at their July 14, 2010 meeting. Statutorily, the State is required to revise the Consensus Revenue Forecast two times per year, in January and July; the Emergency Board may schedule interim revisions if deemed necessary. The next Emergency Board meeting will be scheduled for January 2011.Personal Income Tax (PI) receipts are the largest single state revenue source, and are reported Net-of-Personal Income Tax refunds. Personal Income Tax receipts for September were recorded at $55.76 million, or -$0.30 million or -0.54% below the monthly target of $56.06 million.Corporate Income Taxes for September, which are also reported net-of refunds, were recorded at $22.26 million against a target of $11.95 million, or +$10.31 million (+86.30%) above target.Lunderville noted that, “Approximately $7.2 million of the favorable monthly results in the Corporate Income Tax was associated with a very small number of corporate estimated payments. We are concerned that these estimated payments may be overstated and that some portion will be refunded when corporate income tax returns are filed. Our economists view this above target result as a one-time event and not indicative of an economy improving more quickly than expected.”The consumption taxes experienced mixed results for September; Sales & Use Tax receipts of $17.51 million exceeded the monthly target by +$0.52 million (+3.05%), while Rooms & Meals Tax receipts of $12.60 million fell below target by -$0.09 million (-0.69%).The year to date results for the four major General Fund categories are as follows: Personal Income Tax, $133.67 million (-0.03%); Sales & Use Tax, $53.55 million (+0.80%); Corporate, $23.01 million (+60.11%); and Meals & Rooms Tax, $34.08 million (+0.01%).The remaining tax components include Insurance, Inheritance & Estate Tax, Real Property Transfer Tax, and “Other” (which includes: Bank Franchise Tax, Telephone Tax, Liquor Tax, Beverage Tax, Fees, and Other Taxes). The results for the month of September were as follows: Insurance Tax, $0.49 million (-60.28%); Estate Tax, $0.55 million (-63.52%); Property Transfer Tax, $0.68 million (-19.38%); and “Other”, $7.88 million (+2.27%). Year to date results for these categories were: Insurance Tax, $8.28 million (+1.70%); Estate Tax, $2.67 million (-32.46%); Property Transfer Tax, $2.05 million (-15.95%); and “Other”, $24.33 million (+25.53%). The majority of the favorable year to date results in the “Other” category were due to unanticipated settlement activity for the prior month in Bank Franchise Taxes.Transportation FundSecretary Lunderville also reported on the results for the non-dedicated Transportation Fund Revenue for September. Total non-dedicated Transportation Fund receipts of $19.32 million for the month were slightly below target by -$0.02 million (-0.08%), against the monthly target of $19.34 million. The year to date non-dedicated Transportation revenue was $54.50 million versus the target of $54.48 million (+$0.02 million, +0.04%).Individual Transportation Fund revenue receipts components for September were: Gasoline Tax, $5.25 million or -11.03% behind target; Diesel Tax, $1.43 million or +3.47% ahead of target; Motor Vehicle Purchase & Use Tax, $5.03 million or +4.97% above target; Motor Vehicle Fees, $6.02 million or +6.36% above target; and Other Fees, $1.61 million or -0.73% short of the monthly target. The September year to date Transportation Fund revenue results were: Gasoline Tax, $16.10 million or -3.89% short of target, Diesel Tax, $3.56 million or +2.98% ahead of target; Motor Vehicle Purchase & Use Tax, $12.42 million or -3.31% below target; Motor Vehicle Fees, $18.06 million or +6.69% above target; and Other Fees, $4.35 million or -3.02% short of target.Secretary Lunderville also reported on the results for the Transportation Infrastructure Bond Fund (“TIB”). TIB Fund Gas receipts for September were $1.41 million or -10.86% short of target; year to date receipts of $4.19 million were -6.61% below target. TIB Fund Diesel receipts were $0.17 million or +5.04% above target for the month; year to date TIB Diesel receipts were $0.50 million or +19.53% ahead of target. TIB Fund receipts are noted below the following table:Education FundThe preliminary “non-Property Tax” Education Fund revenues (which constitute approximately 11.9% of the total Education Fund sources) were released today by Secretary Lunderville. The non-Property Tax Education Fund receipts for September totaled $12.94 million, or +$0.24 million (+1.87%) above the $12.71 million target for the month. Year to date Education Fund revenues were $37.29 million or -0.34% behind the year to date target of $37.41 million.The preliminary individual Education Fund revenue component results for September were: Sales & Use Tax, $8.76 million, or +3.05% ahead of target; Motor Vehicle Purchase & Use Tax, $2.51 million or +4.97%; Lottery Transfer, $1.66 million or -8.89%; and Education Fund Interest, $0.01 million against a target of -$0.01 million (percent not meaningful). Year-to-date results were: Sales & Use Tax, $26.78 or +0.80%; Motor Vehicle Purchase & Use Tax, $6.21 million or -3.31%; Lottery Transfer, $4.28 million or -3.58%; and Education Fund Interest, $0.02 against a target of -$0.01million (percent not meaningful).Conclusion“There has been a noticeable loss of momentum in the economic recovery,” said Secretary Lunderville. “Consumer and business confidence remains low and continues to be a brake on the recovery.”“Compared to prior fiscal years, September year to date results for fiscal year 2011 have exceeded fiscal year 2010, but remain 4.2% below fiscal year 2009 and 2.5% below fiscal year 2008 for the same three-month period,” continued Lunderville. “The current forecast does not project a return to fiscal year 2008 revenue levels until fiscal year 2013.”“It’s very important to note that absent two unusual and unexpected revenue events – tax settlement activity in August and estimated corporate taxes in September – general fund revenue would be essentially on target for the first quarter of fiscal year 2011,” Lunderville concluded. “While we are pleased to be ahead of target, this is not an indication of the economy improving quicker than expected.”Source: Lunderville. 10.15.2010last_img read more

CVPS honors retiring CEO Bob Young, plans for future with Larry Reilly

first_imgCentral Vermont Public Service (NYSE-CV) honored retiring leader Bob Young at the annual meeting of shareholders today, and set out a bold new vision aimed at improving value for customers, shareholders and the state of Vermont. Lead Director Bill Sayre honored Young for transforming CV during his tenure as president, and presented him with a framed page from the Congressional Record that included a speech from Representative Peter Welch, D-VT, who feted him on the House floor. ‘When Bob Young became president, that utility faced many challenges,’ Welch said in the speech. ‘He faced them directly: rising costs, transmission system upgrades, a customer base that wanted reliable power but green power. Bob Young succeeded in making CVPS an award-winning company. He focused on customer service and environmental concern and stewardship, proving that green power could be reliable and affordable.’ Sayre showed a brief film of Welch’s speech, and praised Young for what he called his gentlemanly ways even in difficult times. ‘Bob had to orchestrate the complete reorganization of the company in the late ‘90s, the rebuilding of a clean, affordable power supply over the past few years, and the rehabilitation of CV’s reputation starting on day one,’ Sayre said. ‘Perhaps most importantly, he led senior management, the board and employees through a cultural transformation that is the stuff of business textbooks. Through it all, Bob remained focused on the big picture, and provided employees and the board of directors with a steady hand and calm, thoughtful guidance. ‘Bob revamped this company from top to bottom, improving its way of thinking, its environmental footprint, its commitment to customers and Vermont, and indeed its very soul. The CV Bob leaves today is a dramatically better company than the one he took over on December 31, 1995, and he deserves tremendous credit for that,’ Sayre said. ‘I am truly proud of the work we have done,’ Young said. ‘We’ve turned CV into a solid investment, a civic leader, an environmental steward, a great place to work, and a values-based, customer-focused business that is the envy of many in the industry. We’ve certainly faced many trials and tribulations over the years, but we’ve acted with integrity, and our employees have become true ambassadors for the company.’ Young praised CV’s employees, who he said were committed to customers and shareholders alike, and his successor, Larry Reilly. ‘He’s humble, intelligent, collaborative and focused, and he constantly espouses a belief that I have held every day at CV: Value creation for shareholders has to begin with value creation for our customers,’ Young said. On that point, Reilly announced a new CV vision: to be the best small utility in America. ‘We think we already are one of the best small utilities in America ‘ but we aren’t satisfied with that,’ Reilly said. ‘We’ll work extremely hard to get even better.’ Reilly said CV would work to improve already-high customer satisfaction and reliability; provide rates that are competitive in the Northeast; protect the environment; give customers new tools to manage energy consumption and reduce their costs and environmental footprints; demonstrate and expand CV’s corporate citizenship; and provide exceptional value for shareholders over time. ‘All that adds up to a tall order,’ Reilly said. ‘But the board, officers and employees are committed to our new vision, and will work hard every day to achieve itâ ¦ From J.D. Power scores to third-party assessments of CVPS SmartPower®, from total shareholder return to independent reviews of our corporate governance and management, we will look at every aspect of the company. Measures we’ll rely on will include bond ratings, dividends, carbon footprints, environmental achievements, bill comparisons, service quality matrices, surveys and a host of other independent measuresâ ¦ ‘CV already excels in many, many ways, and we wanted to create a vision to help management and employees build on our successes, ward off complacency, and continue to improve our value for all stakeholders,’ Reilly said. ‘I think we’ve done just that. This will not happen overnight. Just as it took many years for Bob Young to lead the way to CV’s turnaround and make the company the success it has become, we are in this for the long haul. We have no illusions about how much work will be required to achieve our vision. ‘But CV and its employees have demonstrated a substantial ability to develop and implement plans to improve service, reliability and value over a period of years. The difference this time will be that we are beginning from the great spot that Bob will leave us, with a team of employees dedicated to each other, our customers and our shareholders.’ May 3, 2011. Photos of Bob Yound and Larry Reilly courtesy of CVPS.last_img read more