"I cannot think of any other time when belonging to, and participating in, an organization like the Chamber has been more important. Because of the uncertain economy, it is imperative that we all stick together, help each other, buy locally when we can, and be a resource for each other." So began the tenure of the new Central Vermont Chamber of Commerce President Robert Lord, Jr. as he addressed more than 120 members and friends of the organization at it's annual breakfast.

Immediately following Lord's brief remarks, a panel of three local business owners shared their insights into "Adapting your Business in a Changing Economy."
Outgoing President Bill Cody thanked the members and directors he led for two years and recapped highlights of 2008.

With the Dow Jones average falling below 8000, CitiGroup teetering (again), and unemployment rising, economic forecasts are bleak, and business owners are nervous. "It was probably a time like this that got chambers organized in the first place," Cody said.

He had already pointed out that Central Vermont retailers suffered less of a decline in holiday sales than the national average. Area residents went out of their way to shop locally, and it made an important difference.

Panelist Burr Morse of Morse Farm and Sugar Works said the focus of local residents sending Vermont products for the holidays was very evident -- and appreciated -- at the farm.

Fred Wilber of Buch Spieler implied that loyalty was a key to his hope of becoming "the last music store in America." Wilber zipped through the evolution of his nearly 40 years in business: records to 8-tracks to cassettes to cds to downloads. Downloads will put music stores out of business,  "it's just a matter of how long," he added. He said he was fortunate that area residents have been willing to pay a few cents more for goods at his Langdon Street store ever since it opened in January of 1973. He can't compete with big box discount stores for price on most items, but he's been intimately involved the community and has more ambiance. Wilber said his customers apparently appreciate both.

The third panelist, Jim Brown, of L. Brown & Sons Printing, said service and technology helped maintain customer loyalty. He said accepting smaller jobs, quick turnaround and personalized print pieces solidified their customer base.
Brown said the family walks a tightrope making key investments in technology without borrowing much. Occasionally the company borrows against a piece of equipment it's buying but not against the other assets of the business. Minimizing debt is a critical concern. "We'll consider putting a machine at risk, but not the company," he said.

Asked about advertising in a soft economy, Morse and Wilber said they keep spending, but are always on the lookout for free publicity. They said they were more than willing to do or say things that called attention to themselves or their businesses, even at the risk of embarrassment. "PR prostitutes" might fit, they joked.

Brown said the printing firm had recently adopted a formal advertising plan for the first time.
Changing with the times, technology, and customer base was essential to the success of all three businesses. All have evolved from what they once were to what they are today. All fully expect their businesses to be different in the future.

Cody thanked the membership for its outstanding support for the organization and its programs, including shop-at-home advertising, networking events, and publications. He cited success in the public policy on and in opposition to new business fees.
Special thanks were extended to retiring Chamber directors Joe Hayes, Chuck Karparis, John Castaldo and Wayne Lamberton.

Nominating committee chair and master of ceremonies Mike Donovan introduced the slate of directors for election to three-year terms on the board: Susan Kruthers, Scott Nichols, Heather Shouldice, Mike Woodfield and past Chamber president Dona Bate.
In addition to Lord, Chamber officers for 2009 are Bonny Downing, Neal Meier, Tim Ross, George Malek and Cody as past president.

The buffet breakfast meeting was held in the Capitol Plaza Hotel and Conference Center, Montpelier.