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Mon. Jan. 23, 2012 NStar proposes price cut for natural gas customers NStar said today that it is proposing a rate cut that if approved by state regulators, would save customers who heat with natural gas about $15 a month when compared with current rates and about $30 a month when compared with the rates from last winter. Boston-based NStar said a steady decline in natural gas prices has enabled it to propose the price cut. Such a proposal needs the approval of the Massachusetts Department of Public Utilities.	Advertisement
Stacy Enxing Seng will preside over Covidien’s vascular therapies business Global health care products company Covidien PLC said that Stacy Enxing Seng has been appointed president of its vascular therapies global business unit. Enxing Seng, 47, joined Covidien in July 2010. Covidien is incorporated in Dublin but has its headquarters in Mansfield. In her new job, Enxing Seng will be responsible for managing a global organization of 4,000 employees with $1.4 billion in revenue. Covidien reported 2011 revenue of $11.6 billion.
Oasys appoints Bob Muscat as its CEO Oasys Water Inc. announced the appointment of Bob Muscat as chief executive as the Boston-based company looks to commercialize its technology for desalination, brine recovery, and water reuse. Before joining Oasys, Muscat served as general manager of GE Energy’s Environmental Services business. In 2009, Oasys finalized $10 million in venture capital funding. The company seeks to develop an economical way to convert saltwater into drinking water.
Verastem plans IPO next week Verastem Inc., a Cambridge company that is seeking to create drugs that target cancer stem cells, is scheduled to launch an initial public offering next week, according to Renaissance Capital LLC, a New York firm that tracks initial offerings of stock.
Alnylam is cutting 61 jobs Alnylam Pharmaceuticals Inc., a Cambridge biotechnology company, said it plans to cut its workforce by 33 percent, or 61 jobs, as part of a “strategic corporate restructuring” plan. One goal of the plan is to save about $20 million in 2012 cash operating expenses. All the company’s employees work in Cambridge. Alnylam said it is looking to align its resources as it accelerates development of promising drug candidates in its pipeline, including one for hemophilia.
Kronos buys OptiLink Kronos Inc., a Chelmsford software company that helps businesses manage their workforces, has acquired the assets of OptiLink from the Advisory Board Co. in a deal that will let Kronos offer more services to its many health care customers. Financial terms of the transaction were not disclosed. Oregon-based OptiLink specializes in services that enable hospitals to better control labor costs by performing such tasks as precisely matching nurses’ staffing levels to current patient demand.
Comcast beefs up ‘Celtics on Demand’ feature Comcast, which telecasts Boston Celtics basketball games, is augmenting its “Celtics on Demand” offering for its cable TV subscribers. New features include a series of instructional basketball videos hosted by Celtics players and coaches. Four hours after a game ends, subscribers can now also access the game for a 24-hour period and watch it again. Now in its fifth season, “Celtics on Demand” aims to help fans fully immerse themselves in the Celtics experience.
Steinway announces agreement in principle to sell band division Steinway Musical Instruments Inc., a company with offices in Waltham, has reached an agreement in principle to sell its band division to an investor group. The company may be best known for Steinway & Sons pianos, but its product line also includes Bach Stradivarius trumpets, Selmer Paris saxophones, and C.G. Conn French horns. The investor group interested in buying the company’s band division is led by two current directors of the company.
Several local firms make Fortune’s list of ‘100 Best Companies to Work For’ Fortune has just released its list of “100 Best Companies to Work For,” and several from Massachusetts made the cut. They include Boston Consulting Group (ranked 2nd), Bingham McCutchen LLP (ranked 30th), Millennium: The Takeda Oncology Co. (ranked 35th), and Bright Horizons Family Solutions (ranked 83rd).
Friendly’s plans Fribble freebie To celebrate its recent emergence from bankruptcy, the Friendly’s faimily-restaurant chain plans to give away free Fribbles at its remaining locations tomorrow afternoon. As generations of New England families know, the Fribble is the chain’s “signature” milk shake. The chain’s chief executive has a message for Friendly’s loyalists: “Friendly’s is open for business in 16 states and nearly 400 locations.”
Hacker group Anonymous shuts down DOJ site Angered by a massive federal indictment against an Internet file-sharing site, the online activist group Anonymous took responsibility for a series of evening network attacks on the websites of the US Justice Department, the US Copyright Office, the Recording Industry Association of America, Universal Music Group, and BMI, an organization that collects copyright royalties for music composers. A number of the sites, including the Justice Department, BMI, and Universal, were knocked offline by the attack; others experienced service disruptions..