Phil Daniels, President, Banknorth Vermont

Vermont's quality of life, and its people, are the State's best assetts, according to Phil Daniels.

Speaking to the Rotary Club at its weekly meeting at the Radisson Hotel, Phil observed that Vermont's economy enjoyed a good balance, with growth evident in the universities and the education sector, an established high-tech sector, a non-profit base and a strong domestic captive insurance industry.

As President of Banknorth Vermont, formerly known in Burlington as the Howard Bank, Phil noted that one aspect of a strong local economy is a strong banking sector, something which Vermont currently enjoys.

While the local economy may be sluggish compared to the boom years of the late 1990s, Phil said that Burlington was far better off than big cities such as Boston and New York. And while there may be doubt as to whether the glass is half-full, or half-empty, according to Phil, the "consumer has been the hero" during the recent slowdown.

Our thanks extend to Phil for an enlightening and informative presentation.