optical express is a retail optical services brand and laser eye surgery specialist in the united kingdom .

the company also provides refractive treatments such as lens surgery and cataract surgery .

optical express is a trading name of the scottish company dcm ( optical holdings ) limited which operates as the optical express group .

in 2013 the company was described by the competition commission as the market leader in refractive surgery .

as a chain of retail opticians , offering a number of healthcare services , the company once operated a private hospital in manchester .

this closed on 4 june 2015 .

laser eye surgery in the uk is dominated by three main companies optical express , ultralase and optimax , which account for approximately 56 % of clinics in the uk .

ultralase was acquired by russell ambrose , ceo of optimax , in 2013 .

optical express

optical express ruined my life - forum for discussion on unregulated refractive & laser eye surgery and support for patients of optical express laser eye surgery .
search our register of optometrists , dispensing opticians , optical students and optical businesses .
the restructuring will leave optical express with around 130 stores , including 55 in scotland .
they also said the optical express ( southern ) subsidiary was providing cause for concern .
who : optical express ( westfield ) limited ( “optical express” ) ; thomas cook and other list suppliers ; the information commissioner’s office ( “ico” ) and the first tier tribunal .
optical express v associated newspapers ltd , heard 16 november 2016 ( nicola davies j ) .
hard times : optical express chief david moulsdale announced the closure of 40 stores in october .
copyright ©2018 express newspapers .
daily express
is a registered trademark . all rights reserved .
optical express - is the uk & europe ' s number one provider of laser eye surgery .
with over 100 clinics across the uk , access to professional eyecare at optical express is easy .
will was invited to write this review by optical express | laser eye surgery . learn more .
kay was invited to write this review by optical express | laser eye surgery . learn more .
stuart was invited to write this review by optical express | laser eye surgery . learn more .
bradley was invited to write this review by optical express | laser eye surgery . learn more .
sandro was invited to write this review by optical express | laser eye surgery . learn more .
sean was invited to write this review by optical express | laser eye surgery . learn more .
michael was invited to write this review by optical express | laser eye surgery . learn more .
martin was invited to write this review by optical express | laser eye surgery . learn more .
carol was invited to write this review by optical express | laser eye surgery . learn more .
adam was invited to write this review by optical express | laser eye surgery . learn more .
jamie was invited to write this review by optical express | laser eye surgery . learn more .
andrew was invited to write this review by optical express | laser eye surgery . learn more .
i can confirm that our company solicitors nor i ( optical express ) have your postal address .
various top professional investigated and she made two trips to the optical express head office in harley street .
optical express employees travel to syria to help those whose lives have been blighted by poor eye sight .
optical express says strict guidelines keep the complications rate in laser eye surgery very low . photograph : alamy
earlier this year mr moulsdale acquired the remaining bank debt of optical express from royal bank of scotland .
this article is the subject of a legal complaint made by oculentis b / v and optical express .
optical express has more 5 star reviews than all other laser eye surgery providers in the uk combined .
fiona garrow was invited to write this review by optical express | laser eye surgery . learn more .
this article is the subject of a legal complaints made by oculentis b / v and optical express .
this online article originally wrongly referred in the title to vision express rather than optical express . we apologise for this error , which has now been corrected .
manager of the maidstone optical express branch , marie chapman , said : “i am thrilled that optical express can support the chernobyl children’s lifeline charity . the work that they do is fantastic and the children are amazing .
the multi - millionaire boss of optical express has been banned from driving after being clocked speeding at 133mph .
optical express limited . free business summary taken from official companies house information . free alerts . registered as sc161469
settas , who worked at optical express for four years , further claimed that he raised concerns with optical express management in september about the number of operations he was undertaking to remove the mplus x due to patient dissatisfaction .
a judge found optical express staff had failed to properly warn stephanie holloway of the risks involved and possible complications .
optical express had used private detectives to covertly film her over three days in august 2012 , the court heard .
stephen o ' hara was invited to write this review by optical express | laser eye surgery . learn more .
robert feal - martinez was invited to write this review by optical express | laser eye surgery . learn more .
in order to complete this request please contact contact mr darren boyle on 01236 795 096 . alternatively you can send a cheque to the following address made payable to optical express : optical express 200 st vincent street glasgow g2 5sg
optical express had even put private investigators on miss holloway ' s tail in a bid to prove she was exaggerating .
optical express is saying “thanks a million” by giving away £1million of laser eye surgery to nhs and emergency service workers .
in october this year mr moulsdale announced the closure of 40 stores and that the optical express ( southern ) part of the group , renamed 123 leeds , was being placed into administration then bought by another subsidiary called optical express limited .
we ' d like to hear from you . there are many different ways to get in touch with optical express .
mr moulsdale has put the division formerly known as optical express ( southern ) into administration . now called leeds123 , optical express ( southern ) had a turnover of £97m in the year to january 1 , 2011 , when the group holding company , dcm ( optical holdings ) had £205m turnover .
the company announced that it had placed dcm optical clinic plc into administration but intended to buy back 16 of the 19 stores in that business and consolidate them into optical express group .
two children whose health has suffered from the chernobyl disaster received free eye care during a visit to optical express’ maidstone branch .
04 / 06 / 15 - optical express joins with tv’s lorraine kelly to raise funds for stv’s children’s appeal . . .
every week , optical express surgeons perform thousands of laser eye surgery procedures , making us the number one choice for patients .
optical express is estimated to have implanted in excess of 6 , 500 people with the mplus x lens . photograph : alamy
21 december 2013 : only government intervention will stop clinics like optical express damaging any more people ' s eyes and lives .
meanwhile , optical express are legally required to provide me with copies of all my images photographed by them at both demos .
opticians and laser eye surgery group optical express has been saved from collapse by its founder , safeguarding about 1 , 600 jobs .
the court heard optical express used private detectives to covertly film her over three days in august to try and dispel her claims .
the project , which started in 2007 , involves optical express supporting glasgow the caring city and our partners at arm in burundi to provide a small but nonetheless vital optical clinic in the bujumbura region .
optical express has again placed one of its business units into administration in what was described last week as a final piece of restructuring .
a spokesman for optical express said that the manual was no longer in use by the company . she said :
every patient who seeks laser eye surgery with optical express must first attend a highly detailed refractive consultation to determine if they are suitable candidates for treatment .
in total , the asa ruled that 23 out of 25 claims made by optical express in promotional material could not be backed up .
carriemcadam : am glad watchdog investigated optical express . apparently they do not have a good reputation amongst those working in the optics industry .
on the down side , a spurious complaint from optical express in october resulted in oerml ' s facebook page being hidden from uk viewers .
in an effort to prevent my beautiful eyes clients receiving her representation and support @ 4 . 50pm optical express ' lawyer emailed sasha rodoy :
25 . ultralase challenged whether ad ( b ) also misleadingly implied that padraig harrington had his laser eye surgery carried out by optical express .
tu _ smooth : optical express are getting exposed on # watchdog . i won’t be going their to get laser eye surgery anytime soon .
laser eye surgery vastly improves the day - to - day lives of hundreds of thousands of patients in the uk each year . in a recent survey of over 97 , 000 optical express patients , more than 99 % said they would recommend optical express to family and friends .
the optical express group was founded in 1991 and is now a world leader of selected healthcare services . the group covers optical stores , refractive laser eye surgery and state - of - the - art refractive clinics .
david moulsdale is closing around one - quarter of his optical express stores in a dramatic restructuring that involves putting part of the group into administration .
asked if optical express is in takeover talks with ultralase , the spokesman for optical express said :
while we don ' t comment on speculation i can confirm our sole focus at present is on executing this restructuring to deliver a very strong footing for our future growth and development .
the promise was improved vision . but some patients who had a controversial lens implant carried out by optical express say that it has actually got worse
04 / 06 / 15 - optical express joins with nottingham doctor to give the gift of sight to patients in remote zambian communities . . .
stu _ mayhew : item about optical express laser eye surgery on watchdog . not sure i want to see anne robinson that clearly to be honest
thecatizzle : @ bbcwatchdog – optical express quoted me one price and charged another , they ignore emails and complaints in sore , i feel cheated .
optical express confirmed that settas did express concerns about quality of vision problems with the mplus x lens but said that the surgeon’s experience was anecdotal while its scientific study of outcomes suggested there was no cause for concern . settas also claimed that optical express only finally removed stocks of the mplus x lenses from its clinics in late november , despite him raising concerns in september .
a senior manager at optical express opticians branded a disabled employee a ‘fat , ugly size - 22 cripple’ before she was sacked , a tribunal heard .
how much do optical express employees make ? glassdoor has salaries , wages , tips , bonuses , and hourly pay based upon employee reports and estimates .
catgrum1 : @ bbcwatchdog shocking misleading bit on optical express tonight . i searched for the royal college guy out – he is a surgeon elsewhere . fishy
as a final note , optical express did not acknowledge the report or engage in the commentary on their twitter profile , facebook page , or website .
we were delighted when love island’s dom and jess stopped by to get their new glasses from optical express . we think they look great , don’t you ?
moulsdale set up optical express in 1991 with a shop in edinburgh and expanded throughout the uk and overseas . it has more than 130 uk optician shops .
the optical express group was founded in 1991 and has grown to become a world leader of selected healthcare services ranging from optical stores , laser clinics to a state - of - the - art refractive laser eye surgery and refractive clinics .
landlords have warned they will reconsider whether to back insolvency proceedings that allow retailers to shed loss - making stores after jjb sports and optical express called in administrators .
the cost of your eye test can vary , depending on your personal circumstances and location . find out more about the eye tests available at optical express here .
optical express also now refuse their damaged patients paid referrals to independent surgeons and charge patients £50 for copies of their medical records - previously provided at no cost .
optical express were so informative and supportive throughout the whole experience of laser eye surgery that i wouldn ' t hesitate to recommend them to anybody considering the procedure .
just like most other brands , optical express clearly recognises tv as an essential tool for talking to the world at large . we plan to collect every optical express ad transmitted in the united kingdom since sept 06 , when tellyads was launched . we certainly dont wish to make any sort of evaluation about whats good advertising and what isnt . thats your call . instead we want to make it easy for you to view optical express advertising whenever you wish . in our view , its not rare for the commercials to make the best tv viewing . and no collection of advertisements could be called complete without some examples of optical express advertisements . so you can have peace of mind that the next time theres another optical express ad , youre pretty likely to be able to track it down here at tellyads .
these are honest accounts from unhappy patients who underwent refractive eye surgery at an optical express clinic : lasik , lasek , iol , rle , etc . . .
with great interest in fact , as your client was not a recipient of this email , nor was anyone else associated with optical express / dcm et al .
a spokesman for optical express said it was
extremely disappointed
by nominet ' s rejection of its case and was unable to comment on cocking ' s claims .
the optical express group is managed by an executive team of directors and personnel that are responsible for ensuring the successful progression of the company through organic growth and acquisition .
a few days later , on august 9 , mr cowell says he called fiona morton , who works in optical express’ hr department to report mr kerr’s offensive comments .
aligned to our recent financial restructuring i believe optical express has never been in a stronger position to deliver for our patients , our staff and our supplier base .
optical express have once again teamed up with sightsavers for a special christmas appeal , which aims to help over 1 million blind or poorly sighted people restore their visual quality .
optical express’ nottingham staff have raised over £1200 for sightsavers after taking part in a charity campaign that included wading through waist - high mud during a grueling 10km obstacle race .
hi adam , thank you very much for your great review of optical express we are delighted to read how happy you have been with service throughout your journey with us .
the claim was made at the employment tribunal of luke cowell , a former manager at optical express – who claims he was sacked after lodging a complaint about the comments .
last night ( may 5 , 2011 ) , watchdog , the bbc ‘s flagship consumer affairs programme , aired a 15 - minute verdict on optical express’s healthcare marketing practices .
bbwtbb : cb just watched # watchdog and their report on laser eye surgery at optical express . i went there for mine a year ago and v . happy with them…
nominet ' s decision is the latest blow to optical express , which until last summer was feared to be the next big name on the high street to face financial collapse .
we will never share your data with 3rd parties for marketing purposes . for more information about how optical express uses , shares and protects your personal data , see our privacy policy
* in a study of 190 , 231 optical express patients with the most common prescriptions we treat , 99 . 2 % achieved 20 | 20 vision or better following treatment .
miss holloway had been ' enticed ' into a branch an optical express branch in southampton in 2008 after seeing an advert on television for eye surgery which claimed it cost £395 .
to my knowledge , only one paper ( the scotsman ) picked up the optical express asa adjudication story . of course , this was followed by the watchdog report mentioned above .
glasgow the caring city alongside optical express , one of the uk leading opticians , have come together to form a unique partners which values visual health as a route out of poverty .
difficult high street trading conditions saw optical express fall to a loss of £1 . 5 million prior to a major restructuring of the group , new accounts filed at companies house reveal .
property companies are furious that jjb and optical express have launched insolvency proceedings just two days after quarterly rent payments were due , meaning landlords will miss out on three months of rent .
* * in a study of 190 , 231 optical express patients with the most common prescriptions we treat , 99 . 2 % achieved 20 | 20 vision or better following treatment .
if you are considering surgery , before making a life changing decision ( not necessarily for the better ) , please read the oerml forum and true stories from damaged optical express patients .
with thousands of visitors every week , this site has cost optical express an astronomical amount of money and a lot of bad publicity . as a result , in 2013 , optical express made a
corporate decision
to ban sasha from accompanying her numerous mbe clients to their consultations with dr jan venter @ oe ' s harley street complex cases management team clinic .
so much has happened since august , not least the court award of £569 . 000 to stephanie holloway after she won her case against optical express and dr joanna mcgraw in september :
in a further blow to optical express , judge edward bailey said miss holloway had paid £2 , 790 for an operation which ' on any objective basis she should never have had ' .
as optical express continues to grow , so does our passion about making a difference in local communities and further afield . we are committed to supporting a variety of charitable and community programmes .
gwen wood , head of the maidstone link for chernobyl children’s lifeline , said : “we’re so pleased to have optical express on board to help provide much - needed healthcare for these children .
david moulsdale , chief executive of optical express , said : “the glasgow taxi outing day is a great cause and i’m very proud that optical express has supported it for a number of years . my dad was a glasgow hackney taxi driver for 38 years and always looked forward to his day out to troon , so it’s a cause that i feel very strongly about . ”
every patient who has a full eye test at optical express receives their own personalised iscan report by email . this detailed report includes the results of your sight test and eye health check .
optical express failed to properly inform a young woman of the risks of laser eye surgery then spied on her in a bid to prove she was lying about how damaged her eyesight was .
optical express is the uk’s largest provider the laser eye surgery . last year they “provided over one million clinical care appointments in the uk , including more than 124 , 000 laser consultations” .
there is particular frustration over optical express , which is shedding up to 40 unwanted shops by putting a subsidiary with 83 sites into administration and then buying back the sites it wants to retain .
© 2018 optical express ruined my life . we guarantee your anonymity unless you state otherwise . please read our privacy policy and the terms and conditions of use of our website for full details .
high street optician optical express has lost a battle to have a website that strongly criticised its record in laser eye surgery closed down over what it claimed were defamatory attacks funded by a commercial rival .
stewart mein , optical express ' s finance director , said the consumer downturn in the past few years had been challenging but the business was now in a good position and planning to expand again .
under the drs procedure nominet have today appointed an independent expert to decide whether optical express ' second complaint against oerml is justified . this is primarily based on their claim that oerml appears to be :
following your client denying my clients their rights to my accompanying them to their consults at optical express harley st clinic the gmc have assured me they are entitled to my presence should they want it .
of course optical express and harper macleod have my address having been involved in legal proceedings with me on two occasions : when they challenged my oerml domain name in 2012 and again five months ago .
the main complaint , brought forward by a competitor ( ultralase ) , claimed that optical express claimed that golfer padraig harrington had laser eye surgery with the company . the company implies in a tv advert and brochure that the two - times open winner had benefited from surgery with optical express . the asa agreed that this was untrue , and ordered the withdrawal of the ad stating it was “misleading” .
optical express is the uk ' s only complete eye care provider with locations nationwide , offering a full range of optical solutions , including glasses , contact lenses and laser eye surgery . it ' s our advanced technology , expert surgeons and world - class patient care that make us no . 1 .
optical express is europe ' s largest provider of laser eye surgery with locations nationwide , offering a full range of optical solutions , including glasses , contact lenses and laser eye surgery . it ' s our advanced technology , expert surgeons and world - class patient care that make us no . 1 .
a surgeon who worked for the market leader in corrective eye surgery , optical express , claims he voiced concerns about the performance of the mplus x lens in the uk earlier last year . photograph : alamy
jackson , a recruitment consultant keen to improve his eyes for the sake of his squash game , and encouraged by adverts offering swift solutions , attended an optical express clinic for an eye consultation last summer .
the leaked training manual seen by the observer tells optical express staff to take the
best care of your patient that you possibly can – it will help you book them and even if they do not book , they will recommend you , and optical express , to their friends and family – it is all about the experience !
. yet critics claim that the manual instead prioritises sales of treatments .
24 . ultralase challenged whether the testimonial attributed to padraig harrington in ad ( a ) misleadingly implied that he had undergone laser eye surgery at optical express , because they understood that was not the case .
optical express group has reported a £15 . 1 million pre - tax loss for its most recent financial year and says a plan to put a subsidiary into administration is the final piece in its restructuring jigsaw .
2018 . does not apply to lens surgery . this offer is not available with any other discount from optical express and is not available to those who have already booked their treatment prior to receiving this offer .
wimbledon has arrived again ! each year the iconic tournament attracts some of the world ' s greatest tennis players . did you know that some of the world ' s leading refractive surgeons work at optical express ?
for me optical express were 1st class all through the process , so would recommend without hesitation , even after surgery they continue to be 1st class , anybody thinking about it , dont , just do it .
the optical express store is located near the top of the stairs and i was surprised to see a number of police officers standing a few feet away , until i realised there was a police recruitment on .
optical express are actively working with sightsavers to help combat curable eye diseases in some of the poorest parts of the world and in 2014 the company helped sightsavers raise over £10 , 000 through their christmas appeal .
optical express said fewer than 20 people may be affected in scotland . those who can not be redeployed will be offered the chance to retrain for its call centre operations . the group has 992 employees in scotland .
a spokesman for optical express said : “we are extremely disappointed by the verdict and for dr mcgraw , a highly skilled and compassionate surgeon who has successfully improved the eyesight and the lives of thousands of patients .
optical express , which has more than 50 stores in scotland , has faced growing competition from online retailers and supermarkets in recent years while also battling with the tough trading conditions affecting the rest of the high street .
roberto cavalli comes to optical express ! if you are searching for glamour and luxury , then look no further . this stylish collection of frames is now available in select stores across the uk # robertocavalli # style urltoken
mr cowell , who worked for optical express between may and october 2012 , says that mr kerr made the comments about the rochdale worker in early august of that year while she was on an induction training course .
this will be challenged and should he not overrule optical express '
corporate decision
and agree to ms rodoy ' s attendance at the request of his patients , professor jan venter will be facing the gmc .
the 1st part of watchdog’s report and its companion article alleges that optical express engages in “pressure selling” , providing “conflicting advice at the clinics . and a pricing structure that confuses customers , and even staff . ” .
the company ' s lawyers tried to have the domain space of the site , optical express ruined my life , removed , but the bid was thrown out by the company that registered the campaign site ' s name . nominet , the internet registry company , said optical express ' s main charge – that the website had been set up and funded by its main competitor , optimax – was
extremely serious
and not proven .
optical express has partnered with the charity to provide eye health check - ups . the chernobyl children’s lifeline has brought over 46 , 000 children from the ukraine and belarus to the uk since 1992 to improve their health .
the cost of laser eye surgery depends on the type of treatment you ' re having and your prescription requirements , but the range of pricing and finance options at optical express make it an affordable solution for all patients .
at optical express , you ' ll find that we provide exceptional clinical expertise , outstanding surgical outcomes and a complete aftercare programme . we , quite simply , want to bring a new sense of joy into your life .
he claims that mr kerr - optical express’ group operations director – called him from glasgow , where the course was taking place , to suggest that the woman be removed from her role because she was not attractive enough .
the company ' s lawyers tried to have the domain space of the site , optical express ruined my life , removed , but the bid was thrown out by nominet , the internet registry company adjudicating on the complaint .
thank you for your email which was addressed to our chief executive officer . in my capacity as clinical services director for the optical express group and based on our previous communications i am offering this response to your email .
material used by some companies to promote sales has been proven on several occasions by the advertising standards authority to be unfounded , lacking in evidence and misleading . in 2011 , the asa upheld 17 complaints against optical express brochures .
a surgeon who worked until december for the market leader in corrective eye surgery , optical express , claimed that he voiced concerns about the performance of the mplus x lens in the uk to his then employer earlier last year .
ruling both optical express and dr mcgraw liable to pay full compensation , the judge said miss holloway had at no point been given sufficient information about the risks of the surgery and possible complications in order to give ‘informed consent’ .
perhaps there is someone at bupa who would like to speak with me before i contact the press with in depth stories from some of mbe ' s clients currently in litigation against optical express , some of whom underwent rle .
dismissing optical express ' s claim , an expert panel formed by nominet said allegations made by the company had been designed to
impugn the honesty and integrity
of rodoy , who was named as the respondent in the case .
success vision express has locations in both arkansas and kansas . find the location that ' s most convenient for you !
ruling both optical express and dr mcgraw liable to pay full compensation , the judge said miss holloway had at no point been given sufficient information about the risks of the surgery and possible complications in order to give
informed consent
.
although no value has ever been revealed for the deal a spokesman for mr moulsdale indicated at the time it was a multi - million - pound investment which would protect jobs and position optical express for growth and without any significant debt .
[ … ] starts getting involved in policing marketing practices . you might remember the furore around the watchdog’s smack down of optical express for alleged dishonest marketing practices in earlier 2011 . not only do a few pinocchios spoil the [ … ]
as 85 % of people who come to optical express for a consultation are suitable for a procedure , it ' s very likely that you will be too . why not try using one of our suitability tools to get a quick initial indication ?
optical express’s clinical services director , stephen hannan , said that some banks of the lens remained in clinics and that concerns about the lens had not been the reason for the withdrawal of others . he denied that any concerns were raised by settas until october .
see today ' s front and back pages , download the newspaper , order back issues and use the historic daily express newspaper archive .
* prices dependent on prescription . optical express head office : 5 deerdykes road , cumbernauld , g68 9hf . the figures below apply to patients taking out a finance agreement . patients who are not taking a finance agreement will be required to pay a minimum deposit at time of booking . * * subject to status . the credit advertised is provided by a number of credit providers with whom we have a commercial relationship . available in uk only . optical express limited is authorised and regulated by the financial conduct authority registration number 689891 .
however , all surgical procedures carry a risk of complication . due to optical express ' s strict guidelines our complication rate is very low – 0 . 7 % in a recent analysis of almost 27 , 000 laser eye surgery procedures carried out by our surgeons .
a recent investigation by the consumer watchdog which ? found that optical express failed on every one of its researchers ' visits to explain possible complications with eye surgery , which include poor night vision , growths where the eye is cut , double vision and chronic eyelid inflammation .
i also wrote if i were restricted from accompanying my clients to their consults i would solicit every optical express patient entering and exiting the building and as my client was denied his right to my presence on monday this is what i did and will do in the future .
asked if the restructuring was required by royal bank of scotland , banker to dcm ( optical holdings ) , a spokesman for optical express said :
the decision to restructure was in the best interests of the business , our people and our customers and that decision was 100 % taken by the board , led by david . once that decision had been taken we informed our bankers as is normal practice .
because of the practical help offered to steadily growing numbers of damaged patients contacting oerml , optical express desperately tried to silence the author of this site , sasha rodoy , campaigner calling for the government to regulate the refractive eye surgery industry . ( see oerml domain name victory link )
the optical express 20 / 20 tour promo stand was situated in the premier location , centre of the mall ' s ground floor . the main entrance from the car park leads straight to the 1st floor balcony , which overlooked the stand where two staircases curved around the sides .
the accounts for dcm ( optical holdings ) show turnover fell from £204 . 7m to £188 . 2m amid difficult high street trading conditions .
“we’re therefore very surprised to see optical express stating its intention to buy back a number of stores . administrators are put in place to get the best possible deal for creditors and not abide by the wishes of an otherwise successful retailer wanting to restructure at the expense of its landlords .
after receiving your most recent communication so late on a sunday evening i must express my admiration for your devotion to your client ' s concerns .
nick grant , a partner at devonshires solicitors , said : “i think there will be further individuals seeking to make a claim against optical express and expect that , based on the number of claims coming in , devonshires will be bringing a class action against optical express in the near future on this mplus x lens issue . devonshires are currently obtaining copies of clients’ medical records before reviewing and instructing an expert to prepare a report . my advice is that anyone who thinks they may have been given an mplus x lens and had a disappointing outcome should seek legal advice . ”
at optical express , we understand how important it is for our patients to build a relationship with and to trust their surgeon . as our expert surgeons have completed thousands of treatments over the course of their careers to become leaders in their field , you can feel confident about your procedure .
the case arose from a text campaign by optical express ( “oe” ) . this involved oe sending millions of messages promoting its laser eye surgery service . oe used contact details described by oe’s suppliers as “consented data . ” this was sourced from a number of suppliers , including thomas cook .
in february frank blin , former head of the scottish operations of big four accountant pwc , joined the board of dcm ( optical holdings ) .
find out how to make a complaint about an optometrist or dispensing optician , about illegal practice in the optical sector , or about the goc .
she added : “we’d like to say a big thank you to optical express’ nottingham team for their fantastic donation . as a direct result of their fundraising campaign , people who had lost their sight will now be able to see their families , find work and enjoy a vastly improved lifestyle . ”
when asked by 5 live presenter adrian goldberg whether or not optical express would welcome greater regulation of the industry , steve schallhorn replied :
listen . . . we would support practical regulations that would improve the industry and deliver meaningful benefits to our patients , we would certainly support that .
the police assured me that optical express had made no direct complaint against me , although hugh kerr & janice mcpherson whined in the shopping mall manager ' s ear for most of the day ! mid afternoon he finally sent two security guards to invite me to a meeting in the management suite .
we are the regulator for the optical professions in the uk . our purpose is to protect the public by promoting high standards of education , performance and conduct amongst opticians . we currently register around 30 , 000 optometrists , dispensing opticians , student opticians and optical businesses . read our mission and values
hi carol , many thanks for sharing your review of optical express - southampton , we are delighted to read about the great service provided by all the team . if you ever need anything else from us , please feel free to give us a call or stop by . have an awesome day !
optical express chief executive , david moulsdale , said : “i am proud of the great response by our staff and the funds they’ve raised for sightsavers . the money will pay for dozens of people in some of the world’s poorest countries to receive vital cataract surgery that could quite literally change their lives . ”
it is truly a life changing event . i was looked after perfectly by everyone involved with my surgery at optical express glasgow . i have already recommended the procedure to a member of my family and told numerous friends about my great experience . i would not hesitate to do it all again : - )
optical express “totally refutes the allegations made in this programme” and for evidence , claimed that “99 % of our patients said they would recommend us to family or friends” and that their “price advertising complies with the asa codes of practice and our pricing structure is made clear on our website and at our consultations” .
hi andrew , thank you very much for your great review of your experience with optical express . we are delighted to read how happy you have been with service and the visual outcome you have achieved . it is fantastic to read how it has changed your life for the better . enjoy your new vision !
optical express ruined my life ( oerml ) was set up in april 2012 by sasha rodoy , a campaigner seeking tighter regulation of laser eye surgery with the support of labour mp john mcdonnell . rodoy had previously run a website called optimax ruined my life , until she came to a confidential settlement with the firm .
the money raised by the nottingham team will be used to treat people who are blind , or going blind from conditions such as cataracts . a cataract operation for an adult in a developing country costs on average £30 , meaning the £1281 raised by optical express could help fund over 40 operations for visually impaired people .
of course optical express did not want me arrested as it would have guaranteed press cover , which they ' ve gone to great lengths to stop , with another in depth story , in scotland ' s sunday herald , killed a few weeks ago thanks to pressure from moulsdale ' s legal team , harper macleod .
it’s likely that optical express became the subject of watchdog’s scrutiny after the most recent advertising standards authority ( asa ) adjudication involving the company was published on april 27 , 2011 . ( the asa aimes to ensure advertising is based on verifiable facts and enforces advertising codes on a wide range on marketing communication media . )
“since launching my campaign in 2012 i have been contacted by thousands of people with problems caused by laser eye surgery across the industry , but in 2014 the numbers with problems with replacement lenses rocketed , ” said sasha rodoy , who runs the website optical express ruined my life , and who is campaigning for tighter regulation .
george settas , who worked as a surgeon at optical express for four years , said : “i told them , on more than one occasion , that i had concerns regarding the performance of the mplus x lens , as i felt that there were a lot more patients experiencing quality of vision problems with this lens than other lenses . explanting – ie removing – such a lens is not an easy procedure at all . concerned by what i felt was an increase in the number of explants with the mplus x lens , i raised the issue within optical express . in the end i had to file a report with the appropriate regulatory authority . ”
one of the surgeons who felt obliged to report to the regulator was george settas , who until he left optical express by mutual agreement on 1 december , was at the heart of the optical express empire , which has courted controversy since being founded by glaswegian david moulsdale in 1991 . the company has been criticised for misleading adverts and last september it was told to pay damages of £500 , 000 to a 28 - year - old woman , stephanie holloway . they had failed to inform her of the risks of laser eye surgery and went on to spy on her in a bid to prove she was lying about how damaged her eyesight was .
stephanie holloway ( pictured left with her mother ) needs to wear sunglasses constantly after being left sensitive to light following the botched operation by optical express . dr joanna mcgraw ( right ( was ' extremely busy ' at the time of the operation , the court heard , and barely had time to properly inform her of the risks
our specialist optical advisors will help choose frames to suit your style and budget from our wide range including designer glasses from armani , chloe , prada and more .
the visiting children had exclusive use of the optical express branch . the optometrist who examined the children , clive burr , has worked at the clinic for over 20 years . he is pictured performing an eye examination on nine - year - old matvei maltsau , who visited the clinic along with 12 - year - old vladziflau padoba .
later that year information was provided detailing a poster in optical express staff rooms which displayed a nameless image of sasha lifted from a youtube video , claiming she was using stolen credit cards in oe stores with instructions advising staff not to approach her but to contact stephen hannan , oe ' s clinical services director . lawyers were involved .
optical express is the market leader in laser eye surgery , but has been at the centre of a series of controversies . earlier this year the high - street optician lost a battle to have a website that strongly criticised its record in laser eye surgery closed down over what it claimed were defamatory attacks funded by a commercial rival .
the board of dcm ( optical holdings ) includes former pwc accountant frank blin who was recently linked to a possible boardroom position at rangers before removing himself from consideration .
optical express said that settas only asked about the rate of explantations in early october , when they shared their study on the mplus x’s performance . they added that settas told them in late october he would not do any more explantations , and at that point he told them that the fee for the operation did not match the work involved .
cocking , who has asked solicitor geoffrey simpson - scott of law firm colemans to act for him , says optical express failed to notice that he was suffering from glaucoma ( which is now advanced ) in the weeks and months after it replaced lenses in his eyes . he told the observer that his life was
ruined , utterly ruined
.
however , the decline in consumer spending and confidence has intensified pressures in the sector in recent years , with the rise of supermarket and online optical providers providing further competition .
it follows similar steps last year when administrators pkf were appointed to a subsidiary including 80 practices – with 40 absorbed back into the group . the move resulted in criticism from the british property federation , which said it was at the expense of landlords ( news 12 . 10 . 12 ) but optical express said at the time there was little alternative .
in july moulsdale agreed to a ‘significant’ investment in the company he founded after talks were called to settle debts with the royal bank of scotland . in an interview with optician the following month ( news 30 . 08 . 13 ) he said the uk laser eye surgery sector could decline further in 2014 but expressed confidence that optical express would outperform the market .
meanwhile , the young man manning the pod told me he should have left braehead at 4 . 00pm returning the pod to london , when optical express management & staff would take over the floor space with their sales pitch . unfortunately for him , as the management were unwilling to face me they ' d told him he had to stay until closing time .
optical express work with worthy and life - changing charities to positively affect people’s lives . we are committed to improving the lives of others by dedicating time , capital and services to those most in need . our recent charity work reflects a company - wide policy to improve eyecare and eye health for millions of people worldwide and we remain dedicated to do this .
in march 2012 , optical express employee and ' troubleshooter ' , patrick james green , was recorded offering a bribe to sasha on behalf of his employer david moulsdale . having asked how much it was worth for her to give up her campaign for government legislation , sasha replied ,
not for a million pounds !
. ( see patrick james green link )
when repeatedly pressed to answer the question that the asa have ruled against optical express using the untrue advertised claim that 99 % of people achieve 20 / 20 vision , desperately looking for a rabbit hole , steve sighed and said :
i ' m a . . i ' m a . . . ophthalmic surgeon and i can ' t address advertising issues .
you have already been provided by our solicitors , at your request , with copies of the agreements that you signed when accompanying patients at the optical express harley street . we and our solicitors , do not have a postal address to which to send you hard copies of these agreements but could do so if you provide us with an address to which to send them .
optical express chairman and chief executive david moulsdale said : ‘there will be no job losses , no patient disruption and no supplier loss . my board and i have taken this decision to protect our patients , our employees and our suppliers . this is the final piece in our restructuring jigsaw and puts us in a position of strength to deliver growth , stability and profitability . ’


nstar was a utility company that provided retail electricity and natural gas to 1.4 million customers in eastern and central massachusetts , including the boston urban area .

nstar became a subsidiary of northeast utilities in april 2012 .

in february 2015 , northeast utilities and all of its operating companies ( public service new hampshire , connecticut light and power , yankee gas , and nstar gas and electric ) became one large company known as eversource energy .

on november 16 , 2006 , the company announced a 7.4 % increase in its dividend to an annual rate of usd1 .30 per common share from the previous usd1 .21 .

nstar has ownership of unregulated district energy and telecommunications businesses , including medical area total energy plant , llc . which produces electricity , steam and chilled water for sale to customers in the longwood medical area of boston .

electric power distribution in the new england area is coordinated by iso new england , a regional transmission organization .

nstar ( company )

nstar was formed in 1999 by the merger of bec energy and commonwealth energy system and currently has the following operating units : boston edison company , cambridge electric light company , commonwealth electric company , and nstar gas company ( formerly commonwealth gas and cambridge gas company ) .
es : connecticut light and power company ; public service company of new hampshire ; and nstar ( only the portion of the irh share formerly owned by western massachusetts electric company , which has been merged into nstar electric company ; see note b - nstar 2 ) .
— infobox company company name = wellesley municipal light plant ( wmlp ) company type = public company company slogan = dedicated to excellence foundation = 1892 location = key people = richard f . joyce , director debra j . healy , business manager… …
in july 2007 , nstar electric introduced a new program called nstar green . in may 2008 , nstar green signed ten - year contracts for sixty megawatts of
northeast utilities and nstar agree to $ 17 . 5 billion merger of equals , forming new england’s premier utility company
northeast utilities and nstar agree to $ 17 . 5 billion merger of equals , forming new englands premier utility company
enter data / information accurately in company ats . execute this position in accordance with the nstar values : . . . .
northeast utilities and nstar agree to $ 17 . 5 billion merger of equals , forming new england’s premier utility company | business wire
and nstar announced they would merge , with the resulting company retaining the northeast utilities name . under the terms of the transaction , nstar shareholders will receive 1 . 312 northeast utilities common shares for each nstar share that they own . the deal is subject to regulatory approval .
although nstar ' s infrastructure has met the soaring electric need , the company is reminding customers to use electricity responsibly during the heat wave .
about the company organix solutions is an organics recovery and municipal solid . . .
gp renewables & trading is a multifaceted energy services company . we . . .
northeast utilities service company changed its name to es on july 1 , 2015 .
state regulators have approved a multibillion - dollar merger between nstar and northeast utilities , clearing the way for the creation of new england ' s largest utility company .
press release – charter contracting company , llc ( charter ) announces the . . .
the connecticut light & power company ( “cl & p” ) and the . . .
( boston , ma ) conover + company communications announces expanded resources to . . .
, and serves on its board of directors . he joined the company as ceo of
ferc orders and naesb require the posting of the following information on the company web site or oasis . this information can also be viewed on nstar ' s oasis site .
nstar is becoming eversource energy . here’s what you should know . - the boston globe
as a locally - based business , nstar recognizes the importance of conducting . . .
cta construction company construction of a new 121 , 000 square foot maynard high . . .
thomas may , left , nstar ' s chief , and charles shivery of northeast utilities .
nstar ( nyse : nst ) is a utility company that provides retail electricity and natural gas to 1 . 4 million customers in eastern and central massachusetts , including the boston urban area .
boston , ma ( august 1 , 2009 ) – pioneering wave energy technology company . . .
nstar electric company ( nstar electric ) , doing business as eversource energy , incorporated on january 8 , 1886 , is an electric utility . the company serves residential , commercial and industrial customers in parts of massachusetts . nstar electric is a subsidiary of eversource energy . nu is a utility holding company . eversource energy operates in three segments : electric distribution , electric transmission and natural gas distribution . eversource energy is engaged in the energy delivery business through its utility subsidiaries , which include the connecticut light and power company ( cl & p ; ) , an electric utility that serves residential , commercial and industrial customers in parts of connecticut ; public service company of new hampshire ( psnh ) , an electric utility that serves residential , commercial and industrial customers in parts of new hampshire and owns generation assets used to serve customers ; western massachusetts electric company ( wmeco ) , an electric utility that serves residential , commercial and industrial customers in parts of western massachusetts and owns solar generating assets ; nstar gas company ( nstar gas ) , a natural gas utility that serves residential , commercial and industrial customers in parts of massachusetts , and yankee gas services company ( yankee gas ) , a natural gas utility that serves residential , commercial and industrial customers in parts of connecticut .
but do not include the percentage interest entitlements of western massachusetts electric company for purposes of service under schedule 20a - nstar ) . nstar : percentage interest : phase i = 0 . 00 % ; phase ii = 0 . 00 % ; boston edison company : percentage interest : phase i = 11 . 24796 % ; phase ii = 11 . 0909 % and commonwealth / canal electric company : percentage interest : phase i = 3 . 72867 % ; phase ii = 3 . 7964 % .
boston , ma — march 8 , 2017 – charter contracting company , llc announced today . . .
july 2016 – nobis engineering , inc . , an employee - owned company and leading . . .
job shadow day 2013 will take place on friday , february 1st . when a company . . .
nstar global services is a leader in placing technical professionals with leading oems and fabs around the world .
but equity investors normally receive a premium when handing control to a buyer . nstar’s deal was struck at parity . that effectively means nstar’s executives will exploit a change - of - control premium that their shareholders were denied .
it’s no surprise nstar wanted to describe selling out to a rival , northeast utilities — the company behind connecticut’s recent crippling power outages — as a merger instead of a takeover . given their huge local monopolies , electric companies are highly regulated and politicized creatures . nstar has 1 . 4 million captive customers in the greater boston area .
“we will hold tom may and the now merged company to their word on that , ’’ sullivan said tuesday .
, both of which are downgradient of the nstar facility . many local activists are lobbying for nstar to abide by state regulations and spend the $ 20 - 40 million required to perform a pcb remediation of the affected lands .
these concerns explain why the companies used a variation on the verb “merge” 29 times when announcing the all - stock deal . each company will contribute seven directors to the board . nstar’s chief executive , thomas j . may , retains the same role in the combined company , while his counterpart at northeast , charles shivery , will become chairman .
- for anyone who follows the company’s stock , its ticker symbol will change from nu to es on february 19 .
power purchased through nstar green would reduce reliance on fossil fuels that are traditionally used to meet the region’s electricity demand .
regulators have all the evidence they need to stop northeast utilities’ $ 4 . 7 billion takeover of massachusetts rival nstar .
bostonnovember 20 , 2008nstar ( nyse : nst ) announced today that its board of trustees voted to increase the dividend on its common shares to an annualized rate of $ 1 . 50 per share , a 7 . 1 % increase over the previous rate of $ 1 . 40 . this is the companys 479 th consecutive dividend and the eleventh consecutive year that nstar has increased the dividend . the company has one of the longest consecutive payment records on the new york stock exchange .
a couple of storms and a power company’s inability to get the lights back on brought renewed focus to a proposed takeover .
a quarterly dividend of $ 1 . 195 per share on nstar electrics cumulative preferred stock , 4 . 78 % series .
nstar is now a subsidiary of the combined utility , which will be the region’s largest , serving nearly 3 . 5 million electric and gas customers in massachusetts , connecticut , and new hampshire . the company will retain the northeast utilities name , but be run by may , nstar’s longtime chief executive . it has dual headquarters in boston and hartford and 9 , 000 employees .
you will execute the strategy by cold calling , outside selling our services and developing new business opportunities for nstar . . . .
a quarterly dividend of $ 1 . 0625 per share on nstar electrics cumulative preferred stock , 4 . 25 % series ; and
under the terms of the agreement , nstar shareholders would receive 1 . 312 northeast utilities common shares for each nstar share that they own in a transaction with a total equity value of $ 9 . 5 billion and an enterprise value of $ 17 . 5 billion . the exchange ratio reflects a no premium merger based on the average closing share price of each company for the preceding 20 trading days . following completion of the merger , it is anticipated that northeast utilities shareholders would own approximately 56 percent and nstar shareholders would own approximately44 percent of the combined company . the agreement provides that , upon closing of the transaction , northeast utilities dividend per share would be increased to a rate that is equivalent to nstars dividend per share , at that time , on an exchange ratio adjusted basis .
under the terms of the agreement , nstar shareholders would receive 1 . 312 northeast utilities common shares for each nstar share that they own in a transaction with a total equity value of $ 9 . 5 billion and an enterprise value of $ 17 . 5 billion . the exchange ratio reflects a no premium merger based on the average closing share price of each company for the preceding 20 trading days . following completion of the merger , it is anticipated that northeast utilities shareholders would own approximately 56 percent and nstar shareholders would own approximately 44 percent of the combined company . the agreement provides that , upon closing of the transaction , northeast utilities’ dividend per share would be increased to a rate that is equivalent to nstar’s dividend per share , at that time , on an exchange ratio adjusted basis .
the company has maintained a proud heritage of providing turnkey electrical and instrumentation construction , maintenance and turnaround services to a variety . . .
charter contracting company , llc announces the addition of lew conley to lead its tri - state area team’s operational and business development efforts .
- bills and envelopes will include the logos of both eversource energy and the name of the old division of the company , such as nstar and the western massachusetts electric co . , also called wmeco . some service vans already have been rebranded with eversource energy logos .
ebc member “e” inc . receives $ 50 , 000 + grant from nstar to expand “kids green their schools” program for boston’s urban schools
as a part of deregulation of the local electrical power industry , nstar has divested itself of all electric generation facilities , keeping only those elements of the business which remain regulated . nstar sold its interest in the seabrook station nuclear power plant to fpl group in 2002 .
more recently , may has led the company into a disagreement with its electricians union , the international brotherhood of electrical workers local 457 , concerning adding a second shift of technicians overnight . the union and the company haven ' t found a mutually agreeable way to do that .
october 21 , 2010 - northeast utilities , the owner of public service company of new hampshire , will purchase nstar for $ 4 . 17 billion in a deal that both companies describe as a “merger . ” if approved by federal and state regulators as well as shareholders , the new company will be new england’s largest utility with a total of 3 . 5 million electric and gas customers in new hampshire , massachusetts and connecticut . the merged company will have a total enterprise value of $ 17 . 5 billion , according to a joint statement .
nstar , headquartered in boston , is an energy delivery company with revenues of approximately $ 3 . 3 billion and assets of $ 7 . 7 billion that serves 1 . 4 million customers in massachusetts , including approximately 1 . 1 million electric distribution customers in 81 communities and 300 , 000 natural gas distribution customers in 51 communities . nstar also conducts non - utility , unregulated operations . for more information , go to urltoken .
connecticut municipal electric energy coop . : percentage interest : phase i = 0 . 80000 % ; phase ii = 0 . 80000 % . nstar posts the aggregate share of the tie pursuant to the nstar schedule 20a under part ii of the iso tariff ( for more information go to :
nstar ' s senior executives have more than 80 years of combined industry experience . this collective experience has helped nstar focus and deliver on our core competencies of providing the right people and asset services for our customers . we provide solutions for every component of your equipment , facility and construction needs .
effective march 2 , 2018 , the western massachusetts electric company ( including its percentage interest of phase i = 3 . 88091 % ; phase ii = 3 . 95150 % ) was absorbed into nstar and these percentage interest values continue to be offered by the es ssp ( see note a - es ) .
nstar had long balked at the high cost of cape wind’s power , but may defended the utility’s decision to buy electricity from the project . by negotiating the terms with the state , rather than having them imposed by regulators , the company had more control over the concessions it made to get the merger approved .
staffing services sales : . you will execute the strategy by cold calling , outside selling our services and developing new business opportunities for nstar . . . .
one example of change was the decision to outsource work from the company ' s information technology department . may said that he looked at both companies for a platform to be used across the board . nstar ' s information technology contract with ibm was ending soon . and northeast utilities ' systems were lacking in areas .
eversource energy service company ( es ) percentage interest entitlements included in its phase i / ii - tf service offering reflects the percentage interest entitlements from other irhs .
but while all this makes it sound like a merger , it’s not . the terms of the transaction give nstar’s existing owners shares equal to around 44 percent of the new entity . that constitutes a change of control , according to nstar’s proxy documents , thereby causing accelerated payouts of unvested equity and other benefits for named executive officers .
) - - northeast utilities ( nyse : nu ) and nstar ( nyse : nst ) today announced that both companies’ boards of trustees have unanimously approved a definitive merger agreement that will create one of the nation’s largest utilities , with a total enterprise value of $ 17 . 5 billion . the company will continue to be called northeast utilities .
massachusetts payroll and benefits work has been sent to connecticut , along with some of the company ' s record - keeping . bay state employees will not have off patriots day , one normally given for the boston marathon . and nstar employees , including may , recently switched their health care from blue cross blue shield to northeast utilities ' provider .
eversource ( nstar electric ) owns and maintains electrical transmission facilities ( local transmission ) in eastern massachusetts available for use to ferc jurisdictional wholesale customers ( non - retail ) .
effective march 2 , 2018 and for the purpose of this table , the western massachusetts electric company ( including its percentage interest of phase i = 3 . 88091 % ; phase ii = 3 . 95150 % ) was absorbed into nstar and these percentage interest values continue to be offered by the es ssp ( see note a - es ) .
“i received a call from psnh’s former human resources director rich chagnon monday morning informing us that northeast utilities , the parent company of psnh , was merging with nstar , ” said tom ryan , ibew local # 1837 assistant business manager . “i was surprised - as i believe all psnh employees were - as the news was kept extremely confidential . ”
northeast utilities , nstar and their respective trustees , executive officers and certain other members of management and employees may be soliciting proxies from northeast utilities and nstar shareholders in favor of the merger and related matters . information regarding the persons who may , under the rules of the sec , be deemed participants in the solicitation of northeast utilities and nstar shareholders in connection with the proposed merger will be set forth in the joint proxy statement / prospectus when it is filed with the sec . you can find information about northeast utilities executive officers and trustees in its definitive proxy statement filed with the sec on april 1 , 2010 . you can find information about nstars executive officers and trustees in its definitive proxy statement filed with the sec on march 12 , 2010 . additional information about northeast utilities executive officers and trustees and nstars executive officers and trustees can be found in the above - referenced registration statement on form s - 4 when it becomes available . you can obtain free copies of these documents from northeast utilities and nstar using the website information above .
the companies will come together in a stock for stock merger of equals . the combined company will provide electric and gas energy to over half of the customers in new england .
northeast utilities , nstar and their respective trustees , executive officers and certain other members of management and employees may be soliciting proxies from northeast utilities and nstar shareholders in favor of the merger and related matters . information regarding the persons who may , under the rules of the sec , be deemed participants in the solicitation of northeast utilities and nstar shareholders in connection with the proposed merger will be set forth in the joint proxy statement / prospectus when it is filed with the sec . you can find information about northeast utilities ' executive officers and trustees in its definitive proxy statement filed with the sec on april 1 , 2010 . you can find information about nstar’s executive officers and trustees in its definitive proxy statement filed with the sec on march 12 , 2010 . additional information about northeast utilities ' executive officers and trustees and nstar’s executive officers and trustees can be found in the above - referenced registration statement on form s - 4 when it becomes available . you can obtain free copies of these documents from northeast utilities and nstar using the website information above .
meriden and two utilities have settled a 1995 dispute over millions of dollars in tax refunds owed to the utilities . in a settlement reached monday , the city agreed to drop its appeal of an april ruling that it had overtaxed the utilities $ 16 . 4 million , including interest . the utilities - - northeast utilities , the parent company of yankee gas services company , and connecticut light and power company - - agreed to accept $ 14 . 9 million . the city council will issue municipal bonds to help pay for the refunds .
any forward - looking statement speaks only as of the date of this press release , and nstar undertakes no obligation to publicly update forward - looking statements . other factors in addition to those listed here could also adversely affect nstar . you are advised , however , to consult any further disclosures we make in our filings to the securities and exchange commission .
nstar , headquartered in boston , is an energy delivery company with annual revenues of approximately $ 3 billion and assets of $ 8 billion that serves 1 . 4 million customers in massachusetts , including approximately 1 . 1 million electric distribution customers in 81 communities and 300 , 000 natural gas distribution customers in 51 communities . for more information , go to urltoken .
approximately 460 members of ibew local # 1837 work for psnh , the largest electric utility in new hampshire . the company provides electricity for more than 475 , 000 homes and businesses .
the closing of the nearly $ 20 billion deal capped more than a year of scrutiny by state regulators , energy officials , and consumer advocates , who secured several concessions from the utility , including a four - year distribution rate freeze for nstar and western massachusetts electric co . customers , and a promise from nstar to purchase power from the offshore cape wind project .
northeast utilities and nstar will conduct a conference call at 8 : 30am edt on october 18 , 2010 to discuss the merger . to participate , please dial ( 888 ) 802 - 8577 ( or + 1 - 973 - 935 - 8754 if outside the united states ) , and enter the access code 19106148 , approximately 15 minutes before the scheduled start of the call . the conference call will also be accessible live in the investor relations section of both the northeast utilities website at urltoken and the nstar website at www . nstar . com .
in connection with the proposed merger between northeast utilities and nstar , northeast utilities will file with the sec a registration statement on form s - 4 that will include a joint proxy statement of northeast utilities and nstar that also constitutes a prospectus of northeast utilities . northeast utilities and nstar will mail the joint proxy statement / prospectus to their respective shareholders . northeast utilities and nstar urge investors and shareholders to read the joint proxy statement / prospectus regarding the proposed merger when it becomes available , as well as other documents filed with the sec , because they will contain important information . you may obtain copies of all documents filed with the sec regarding this proposed transaction , free of charge , at the secs website ( www . sec . gov ) . you may also obtain these documents , free of charge , from northeast utilities website ( www . nu . com ) under the tab investors and then under the heading financial / sec reports .  you may also obtain these documents , free of charge , from nstars website ( www . nstar . com ) under the tab investor relations .
“the combination of northeast utilities and nstar will create a great new england based company , assuring the regional benefits of a locally controlled energy company for years to come , ” said charles w . shivery , chairman , president and ceo of northeast utilities . “our companies already have a strong track record of working together for new england . we recently jointly executed an agreement to invest $ 1 . 1 billion in new transmission lines to québec , which will provide low - carbon hydro energy to power one million homes in new england beginning in 2015 . ”
the combination of northeast utilities and nstar will create a great new england based company , assuring the regional benefits of a locally controlled energy company for years to come ,  said charles w . shivery , chairman , president and ceo of northeast utilities . our companies already have a strong track record of working together for new england . we recently jointly executed an agreement to invest $ 1 . 1 billion in new transmission lines to québec , which will provide low - carbon hydro energy to power one million homes in new england beginning in 2015 .
green mountain power company ( gmp ) percentage interest entitlements included in its phase i / ii - tf service offering reflects its percentage interest entitlement and the percentage interest entitlements from other irhs .
that’s the new name of nstar and its parent company , northeast utilities , which announced the change in january . four other northeast utilities divisions operating in other parts of new england - - public service co . of new hampshire , yankee gas services co . , western mass . electric , and connecticut light and power co . - - also took on the new name , which the company said last week would save costs in the long run . here ' s how things will be different for the combined companies’ 3 . 6 million customers in new england :
with high temperatures and oppressive humidity bearing down on new england , nstar electric & gas yesterday set a new all - time record for electricity delivered to its 1 . 1 million electric customers .
nstar has had its share of environmental mishaps , including nearly a dozen spills at its former watertown , massachusetts facility . the spills , most of which occurred during the 1980s , consisted of transformer oil , which contained pcbs in high concentrations ( 6 , 200 parts per million ) . these spills have contaminated the charles river and nearby sawins and williams pond , both of which are downgradient of the nstar facility . many local activists are lobbying for nstar to abide by state regulations and spend the $ 20 - 40 million required to perform a pcb remediation of the affected lands .
hartford , ct and boston , ma ( october 18 , 2010 )  northeast utilities ( nyse - nu ) and nstar ( nyse - nst ) today announced that both companies boards of trustees have unanimously approved a definitive merger agreement that will create one of the nations largest utilities , with a total enterprise value of $ 17 . 5 billion . the company will continue to be called northeast utilities .
thomas j . may , chairman , president and ceo of nstar said , this is simply the start . together , with enhanced financial resources , complementary distribution and transmission assets , reputations for operating excellence and talented employees , we will be able to accomplish great things . nstars very strong balance sheet coupled with northeast utilities impressive array of transmission investment opportunities and diversified suite of distribution businesses translates into a compelling
may , who became chief executive of northeast utilities when it merged with massachusetts utility nstar in april 2012 , has spent the intervening months navigating spats with electricians , lawmakers , regulators and information technology employees .
northeast utilities said on monday that it has agreed to acquire nstar for $ 4 . 3 billion in stock , in a merger that will create one of the biggest power utility companies in the country .
boston  with high temperatures and oppressive humidity bearing down on new england , nstar electric & gas yesterday set a new all - time record for electricity delivered to its 1 . 1 million electric customers . nstar estimates , at 3 p . m . on july 19 it provided 4700 megawatts of electricity to its customers , surpassing by more than 4 % the previous record set during the stifling summer of 2002 .
in october , tata consulting services and infosys were hired to take over most of the company ' s information technology needs , a decision later reviewed by regulators for its effect on storm readiness and cybersecurity defenses .
in connection with the proposed merger between northeast utilities and nstar , northeast utilities will file with the sec a registration statement on form s - 4 that will include a joint proxy statement of northeast utilities and nstar that also constitutes a prospectus of northeast utilities . northeast utilities and nstar will mail the joint proxy statement / prospectus to their respective shareholders . northeast utilities and nstar urge investors and shareholders to read the joint proxy statement / prospectus regarding the proposed merger when it becomes available , as well as other documents filed with the sec , because they will contain important information . you may obtain copies of all documents filed with the sec regarding this proposed transaction , free of charge , at the sec’s website ( urltoken ) . you may also obtain these documents , free of charge , from northeast utilities’ website ( urltoken ) under the tab “investors” and then under the heading
financial / sec reports .
you may also obtain these documents , free of charge , from nstar’s website ( urltoken ) under the tab “investor relations . ”
. the epa also stated that nstar had failed to prepare spill plans at four of its facilities , in brighton , cambridge , needham , and west roxbury , where oil is pumped through their pipe lines .
barclays capital is serving as lead financial advisor and lazard is serving as financial advisor to northeast utilities . skadden , arps , slate , meagher & flom llp is serving as transaction counsel to northeast utilities . goldman , sachs and co . , is serving as lead financial advisor and lexicon partners ( us ) llc is serving as financial advisor to nstar . ropes & gray llp is serving as transaction counsel to nstar .
i am grateful to be given the opportunity to bring my industry experience in support of nstar’s customer accounts , and to represent an organization that takes the steps to bring out the best in its employees .
nstar transmits and delivers electricity and natural gas to 1 . 4 million customers in eastern and central massachusetts ; including over one million electric customers in 81 communities and nearly 300 , 000 gas customers in 51 communities .
nstar has ownership of unregulated district energy and telecommunications businesses , including medical area total energy plant , inc . which produces electricity , steam and chilled water for sale to customers in the longwood medical area of boston .
published reports indicated that the union representing workers at nstar – the utility workers of america local 369 - was withholding comment while they studied the deal . that “wait and see” attitude was also reflected by brother ryan .
chairman , president and chief executive officer thomas j . may said , the dividend action taken by our board reflects the solid financial condition of nstar and the confidence we have in our long - term business outlook .
thomas j . may , chairman , president and ceo of nstar said , “this is simply the start . together , with enhanced financial resources , complementary distribution and transmission assets , reputations for operating excellence and talented employees , we will be able to accomplish great things . nstar’s very strong balance sheet coupled with northeast utilities’ impressive array of transmission investment opportunities and diversified suite of distribution businesses translates into a compelling growth story . merging with northeast utilities provides more diverse , stable and higher earnings and dividend growth than nstar would have achieved on its own . it also assures that the long track record of success our investors have enjoyed in the past will continue . ”
may talks in references and analogies . standardizing operations for the new company , which distributes electricity and natural gas to 3 . 6 million customers , he looked for the best ideas and implemented them across all six of its businesses .
each of cl & p ; , nstar electric , psnh and wmeco owns and maintains transmission facilities that are part of an interstate power transmission grid over which electricity is transmitted throughout new england . each of cl & p ; , nstar electric , psnh and wmeco and other new england utilities , are parties to a series of agreements that provide for coordinated planning and operation of the region ' s transmission facilities and the rules by which they acquire transmission services .
with the forecast calling for high temperatures through the end of the week , nstar is expecting very high electricity usage through the weekend . similarly , the new england region as a whole is seeing exceptional energy usage due to extreme weather .
* the company’s effective tax rate dropped to 1 % from 34 . 1 % in 2007 , due to tax credits and , according to goldman sachs ,
changes in geographic earnings mix
thus reducing the company ' s tax obligation . many critics argue that the reduction in goldman sach ' s tax rate was achieved by shifting its earnings to subsidiaries in low - or no - tax nations . goldman sachs had 28 such subsidiaries at the time , including 15 in the cayman islands .
changes in ownership and rules at candlewood lake have boaters and residents there anxious . northeast utilities announced on july 24 that the company had agreed to sell the lake , along with 15 power plants in connecticut and massachusetts , to energy capital partners , a private equity firm in short hills , n . j . , for $ 1 . 34 billion . the announcement came just days before the company released a shoreline management plan that described how the lake would be operated for the next 38 years .
new england power company ( nep ) percentage interest entitlements included in its phase i / ii - tf service offering reflects the percentage interest entitlements for nep and the nep affiliates , which include montaup electric company and newport electric corporation . nep ( percentage interest : phase i = 17 . 96963 % and phase ii = 18 . 5316 % ) ; montaup electric company ( percentage interest : phase i = 3 . 5777 % and phase ii = 3 . 634 % ) ; and newport electric corporation ( percentage interest : phase i = 0 . 44217 % and phase ii = 0 . 4502 % ) . nep posts the aggregate share of the tie pursuant to the nep schedule 20a under part ii of the iso tariff ( for more information go to :
growth story . merging with northeast utilities provides more diverse , stable and higher earnings and dividend growth than nstar would have achieved on its own . it also assures that the long track record of success our investors have enjoyed in the past will continue .
northeast utilities and nstar will conduct a conference call at 8 : 30am edt on october 18 , 2010 to discuss the merger . to participate , please dial ( 888 ) 802 - 8577 ( or + 1 - 973 - 935 - 8754 if outside the united states ) , and enter the access code 19106148 , approximately 15 minutes before the scheduled start of the call . the conference call will also be accessible live in the investor relations section of both the northeast utilities website at urltoken and the nstar website at urltoken .
* on november 10 , 2008 , during the financial crisis of 2008 , the company won federal reserve system approval to convert to a bank holding company , making it eligible for government help under the troubled asset relief program . at that time , american express had total consolidated assets of about $ 127 billion . in june 2009 , $ 3 . 39 billion in tarp funds were repaid plus $ 74 . 4 million in dividend payments , and in july 2009 they ended their obligations under tarp by buying back $ 340 million in treasury warrants .
. the epa also stated that nstar had failed to prepare spill plans at four of its facilities , in brighton , cambridge , needham , and west roxbury , where oil is pumped through their pipe lines . nstar has had its share of environmental mishaps , including nearly a dozen spills at its former watertown , massachusetts facility . the spills , most of which occurred during the 1980s , consisted of transformer oil , which contained pcbs in high concentrations ( 6 , 200 parts per million ) . these spills have contaminated the charles river and nearby
nstar signed a 15 - year contract last month to buy cape wind’s power at a starting price of 18 . 7 cents per kilowatt - hour , significantly above the cost of electricity from traditional power plants . that’s expected to add about a dollar to customers’ monthly bills .
may sat in a conference room at the company ' s berlin offices , wearing a gray suit , a white - striped shirt and an orange tie . the room was chosen because may doesn ' t have an office here ; he splits his time between boston and hartford .
the board of trustees of northeast utilities will be made up of a combination of trustees from the two companies , including 7 members nominated by the board of northeast utilities and 7 members nominated by the board of nstar , with the lead trustee nominated by the board of northeast utilities .
connecticut has had more merger - related job reductions , regulatory filings show . the company cut more of its connecticut information technology workers when it outsourced its work to two indian firms last year . and it announced most recently that it was closing nearly a dozen work centers in the state .
the merger finalized tuesday between boston’s nstar and connecticut’s northeast utilities has created one of the nation’s largest energy delivery companies , with more money to invest in system improvements , more crews to fix power outages , and better bargaining power to negotiate lower rates for customers , chief executive thomas j . may said .
* in november 2010 the uk division of american express was cautioned by the office of fair trading for the use of controversial charging orders against those in debt . the regulator said that the company was one of four companies who were encouraging customers to turn their unsecured credit card debts into a form of secured debt .
the combined company will operate six regulated electric and gas utilities in three states and will have nearly 3 . 5 million electric and gas customers . northeast utilities will have nearly 4 , 500 miles of electric transmission lines , 72 , 000 miles of electric distribution lines and 6 , 000 miles of gas distribution lines .
our system and our employees are doing an outstanding job , despite the record - breaking demand we ' re seeing today ,
said werner schweiger , nstar ' s senior vice president of operations .
we have extra crews on working to monitor the system to make sure it operates smoothly during this crucial time .
but may promoted the $ 780 million in savings his company expects to see over the next 10 years , in part by eliminating duplicate administrative functions and some jobs . the utility has agreed to pass some of those savings to customers , including through a one - time $ 21 million rebate negotiated by massachusetts attorney general martha coakley .
the merger , in addition to being large , has been played out publicly in regulatory reviews questioning may ' s and the company ' s decisions in a way that few other deals are scrutinized . if united technologies corp . , for example , wanted to outsource its information technology department , it probably would not involve a public inquiry .
i look at today ' s utilities as being right at the center of public issues and major changes , climate change , energy costs , resilience , cybersecurity ,
he said .
these are very significant public issues , and he is managing a private - sector company with regulatory oversight and causing change in all those areas .
a year from now , two years from now , people won ' t be talking about , ' this one won ' and ' this one lost , '
said may , who celebrated the merger ' s second anniversary on april 10 , coincidentally also his birthday .
you want to get past the hatfield and mccoy routine and have one company .
terminated an $ 11 . 2 million contract with ams to modernize the state ' s tax system and sued the company for $ 985 million in damages . another customer , the federal thrift investment board , cancelled a contract in 2000 for a system to make thrift savings plan data available online . the subsequent lawsuit was settled for $ 5 million in june 2003 . a subsequent
the transaction will create many opportunities for the companies to leverage their combined resources to strengthen service quality in the various service territories . the two companies have plans to invest $ 9 billion in new england’s energy infrastructure over the next five years . the combined scope and scale of northeast utilities will make investment more cost effective , spread over a larger customer base , allowing investments on a scale that might not be attractive to the companies on a stand - alone basis . in addition , the combined company will share best practices and implement them over the entire customer base . for example , northeast utilities and nstar have been long recognized by many national and international organizations for the success of their energy - efficiency programs that , when combined , total more than $ 200 million in annual spending .
the transaction will create many opportunities for the companies to leverage their combined resources to strengthen service quality in the various service territories . the two companies have plans to invest $ 9 billion in new englands energy infrastructure over the next five years . the combined scope and scale of northeast utilities will make investment more cost effective , spread over a larger customer base , allowing investments on a scale that might not be attractive to the companies on a stand - alone basis . in addition , the combined company will share best practices and implement them over the entire customer base . for example , northeast utilities and nstar have been long recognized by many national and international organizations for the success of their energy - efficiency programs that , when combined , total more than $ 200 million in annual spending .
northeast utilities has said that unless it can rebuild the backbone of the power grid serving fairfield county , residents of the southwestern part of connecticut could soon find themselves in the dark . the company , it said , will simply not be able to meet demand . ' ' we ' ve discussed this with planners since at least the 1970 ' s , ' ' said frank j . poirot , a company spokesman . ' ' we ' ve done everything we can with the lower - voltage transmission lines to meet the needs , but we ' re at the end of the short - term fixes we can do with the existing system , and we have to step up , and we see no alternative but to upgrade the 115 - kilovolt lines with 345 - kilovolt transmission lines . ' '
“nstar’s strong cash flows are very complementary to northeast utilities’ attractive regulated investment opportunities , mitigating the need for future equity issuances which is a significant benefit for our shareholders , ” continued mr . shivery . “this merger , upon completion , will provide a significant increase in the dividend for northeast utilities shareholders and will enable long term dividend growth opportunities that are so important to all of our investors . ”
northeast utilities media inquiries : tanya meck , 860 - 728 - 4885 or investor inquiries : jeff kotkin , 860 - 728 - 4650 or nstar media inquiries : caroline allen , 617 - 424 - 2460 caroline . allen @ urltoken or investor inquiries : phil lembo , 781 - 441 - 8100 philip . lembo @ urltoken or john moreira , 781 - 441 - 8887 john . moreiera @ urltoken
nstars strong cash flows are very complementary to northeast utilities attractive regulated investment opportunities , mitigating the need for future equity issuances which is a significant benefit for our shareholders ,  continued mr . shivery . this merger , upon completion , will provide a significant increase in the dividend for northeast utilities shareholders and will enable long term dividend growth opportunities that are so important to all of our investors .
utilities , including future financial and operating results ; nstars and northeast utilities plans , objectives , expectations and intentions ; the expected timing of completion of the transaction ; and other statements relating to the merger that are not historical facts . forward - looking statements involve estimates , expectations and projections and , as a result , are subject to risks and uncertainties . there can be no assurance that actual results will not materially differ from expectations . important factors could cause actual results to differ materially from those indicated by such forward - looking statements . with respect to the proposed merger , these factors include , but are not limited to : risks and uncertainties relating to the ability to obtain the requisite nstar and northeast utilities shareholder approvals ; the risk that nstar or northeast utilities may be unable to obtain governmental and regulatory approvals required for the merger , or required governmental and regulatory approvals may delay the merger or result in the imposition of conditions that could reduce the anticipated benefits from the merger or cause the parties to abandon the merger ; the risk that a condition to closing of the merger may not be satisfied ; the length of time necessary to consummate the proposed merger ; the risk that the businesses will not be integrated successfully ; the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize than expected ; disruption from the transaction making it more difficult to maintain relationships with customers , employees or suppliers ; the diversion of management time on merger - related issues ; the effect of future regulatory or legislative actions on the companies ; and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect . these risks , as well as other risks associated with the merger , will be more fully discussed in the joint proxy statement / prospectus that will be included in the registration statement on form s - 4 that will be filed with the sec in connection with the merger . additional risks and uncertainties are identified and discussed in nstars and northeast utilities reports filed with the sec and available at the secs website at www . sec . gov . forward - looking statements included in this release speak only as of the date of this release . neither nstar nor northeast utilities undertakes any obligation to update its forward - looking statements to reflect events or circumstances after the date of this release .
bangor hydro electric company ( bhe ) percentage interest entitlements included in its phase i / ii - tf service offering reflects the percentage interest entitlements from another irh . bhe ( percentage interest : phase i = 1 . 51 % and phase ii = 1 . 52 % ) . bhe posts the aggregate share of the tie pursuant to the bhe schedule 20a under part ii of the iso tariff ( for more information go to :
mr . may added , “with this transaction we will create a larger , stronger and more diversified regulated utility with over 9 , 000 employees in massachusetts , new hampshire and connecticut , thereby benefiting our region as a whole . the combined company will have the scale , employee talent and financial resources to meet the complex and demanding energy needs of customers across new england and provide sustainable energy solutions that will support regional growth . ”
mr . may added , with this transaction we will create a larger , stronger and more diversified regulated utility with over 9 , 000 employees in massachusetts , new hampshire and connecticut , thereby benefiting our region as a whole . the combined company will have the scale , employee talent and financial resources to meet the complex and demanding energy needs of customers across new england and provide sustainable energy solutions that will support regional growth .
the biggest problem might be an identity crisis . japan’s corporate managers have long focused on expanding market share at the expense of profitability , adding high - employment , low - margin business lines . take panasonic . its display technology is world class , but the company still makes low - margin appliances like portable razors and fax machines . sony tells a similar story . honda remains the world leader in hydrogen - fuel cell technology but part of its supply chain is underwater .
* goldman employees and their relatives contributed almost a million dollars to barack obama ' s presidential campaign — making it
the company from which obama raised the most money in 2008
. former goldman executives who hold senior positions in the obama administration include gary gensler , the chairman of the commodity futures trading commission ; mark patterson , a former goldman lobbyist who is chief of staff to treasury secretary timothy geithner ; and robert hormats , the undersecretary of state for economic , energy and agricultural affairs .
fairfield county may be the engine of connecticut ' s economic growth , but a few cities and towns in this critical corridor are challenging connecticut light and power company ' s current proposal to provide it with more power . c . l . and p . , a subsidiary of northeast utilities , wants to upgrade transmission capacity in the state ' s most populous county by adding a 345 , 000 - kilovolt ( kv ) line from bethel south to norwalk along the existing 20 - mile right of way .
when is a merger of equals really a takeover ? one easy way to tell is when the top brass get rich and undeserved paydays . there’s probably no better live example than the just - delayed sale of a massachusetts electric utility , nstar . its top five executives could feast on as much as $ 50 million in severance and change - of - control payments despite labeling their deal one of mutual control for both sets of shareholders . as regulators investigate the union more deeply , investors may want to do the same .
in addition to historical information , this press release may contain a number of forward - looking statements as defined in the private securities litigation reform act of 1995 . words such as anticipate , expect , project , intend , plan , believe , and words and terms of similar substance used in connection with any discussion of future plans , actions , or events identify forward - looking statements . forward - looking statements relating to the proposed merger include , but are not limited to : statements about the benefits of the proposed merger involving nstar and northeast