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- seattlegirluw, on 03/27/2009, -3/+48Well... You don't expect the executives to go without BONUSES just because they ran the company badly?! That's not the American way
- andywebb95, on 03/28/2009, -2/+21Disgusting news but honestly as long as they don't get a bailout from the taxpayers or cause the public any cost in any way I could care less.
That being said this will probably cost us something either directly or indirectly. - nesstheking1, on 03/28/2009, -1/+19They were asking for it.
Bastards laid me off a month ago! - MadFistWilly, on 03/28/2009, -0/+16Not surprising that they are going under. Charter is the only cable provider in several places here in WI and they've always been a pain to deal with. I've never understood the notion of pushing all-in-one packages that include cable, phone, and internet, especially recently, at a time when more and more people are exclusively using cell-phones... not to mention that their cable prices have easily doubled, if not tripled, in the last 10 years or so.
Oh well, here's to my high-speed DSL and the the amazing video streaming powers of the internet. - JFitzpatrick, on 03/28/2009, -1/+16Because the majority of us are sick of seeing people get enormous financial rewards for being ***** idiots.
Did you even read the entire headline, let alone the article? The company is filing for bankruptcy. They are restructuring to shed BILLIONS of dollars in debt. They ***** up. They aren't profitable. The people in charge of the company, the ones that are supposed to be so smart and generate ideas that generate the profit... are getting big bonuses. THEY ARE GETTING PAID MILLIONS OF DOLLARS TO SUCK AT THEIR JOBS.
The rest of us just get fired when we ***** up that bad. - nysus, on 03/28/2009, -2/+15We should stop calling them "bonuses" and give them a more appropriate name like "heists." Corporate governance has turned into a shady insider's game.
- AgeofMastery, on 03/28/2009, -3/+16Because ***** like this affects the consumer in a bad way. Charter is a monopoly in most areas so if you want cable you have to deal with them. And now it's harder to get good service because they've laid off phone support and field techs to save the money for these bonuses.
- BorsKaegel, on 03/27/2009, -3/+16Absolutely disgusting.
- hymneforthedead, on 03/28/2009, -2/+14Not surprised, charter and comcast are absolutely disgusting companies.
they sold tons of consumer names over to big business in the name of money. - hartley, on 03/28/2009, -1/+12More like its the Paul Allen way.
Listen to the stories from the employees of ZDTV/TechTV. Paul got a special rate for his shares while everyone else got to fight over the what was left. Both Leo Laporte and John C. Dvorak have spoken about this many times over the years.
The greatest complaint comes from Dvorak. How exactly do you loose money on a cable company (a monopoly)? - jonathanseely, on 03/27/2009, -2/+13Wow... hadn't heard about this coming. Cable TV must really be hurting...
- slayermet420, on 03/28/2009, -1/+12These people are ***** suckers. Who ever authorized this needs to serve jail time. Federal pound you in the ass jail.
- JFitzpatrick, on 03/28/2009, -0/+10Nope.
- canadaboy, on 03/28/2009, -0/+10But they deserve the bonuses! These people successfully extended their business by borrowing money they won't have to repay. They took a mid-sized company and made it big with "free money". Sure, they borrowed it then, but now we restructure, lose 8 Billion in debt, and slough the under performing parts of the business. Now we have a company, no debt, and only using the best parts of the other companies we bought with free money! Genius! Awesome! Bigger bonus! Generate More free monies!
This seems to be the New American Way. If only the "Kinda Top Three" can do the same! AIG is there as well! 170 Billion and counting in Free Money to pay for their previous Mergers.
Why pay for your company's gowth costs if you can get a bailout or restructuring! Genius I say! More bonuses all round!
:tongue->cheek: - andywebb95, on 03/28/2009, -1/+10The real victims here are the employees who are screwed over by incompetence.
At the risk of sounding like an "old school" manager, if you are in a position of leadership where your decisions affect people's jobs you better damn well take that stewardship seriously. - mst3kcrow, on 03/28/2009, -0/+9Charter offers very ***** services while price gouging their customers. Their entire business model is to get a monopoly on internet/cable service, jack up prices, and minimize service on their end. I've never heard of them investing in their infrastructure. Hell, in the summer of 2007, Charter ran an ad campaign with Kalahari Resort in WI and lost minimally $1.6 million. As such, I am not surprised the execs were greedy as all hell to take the bonuses in face of an utter failure.
- JFitzpatrick, on 03/28/2009, -0/+8You do realize that the cost of them writing off debt and spending millions on their own bonuses instead of the company, is ultimately passed a long to the consumer, yes?
I'm a charter customer. My bills every month pay for their ***** ups. - JFitzpatrick, on 03/28/2009, -1/+9I'm not sick of people making more money than me. Most of them deserve it.
I am however sick of seeing people getting paid huge sums of money for screwing up and doing their jobs poorly. In the "real" world, outside the gilded board rooms of corporations... you don't get paid extra for doing it wrong. - runninbroke, on 03/28/2009, -0/+7Well, lets see. High prices + Crappy service= poor business!! Yep, thats Charter. When you need support for the product like internet, you get hold of "Bob" from "Georgia"(yea right) and it goes all downhill from there. Not that I have a problem with foreign people doing customer service, its just you cant understand them. After begging to speak with someone who speaks english, they hook me up with another overseas tech and the process starts over again! PLUS, they will jack up your internet bill for price hikes without notifying you. Like you wouldnt notice!!! Yep, this news is no surprise at all!
- yourbrokenoven, on 03/28/2009, -0/+7here's the perspective you may be forgetting. I make about $45k per year. The lowest paid individual bonus listed was $597k.
$45k = $45,000
$579k = $597,000
This one reward that one man received for helping drive his company into bankruptcy was 13 times more than I make in an entire YEAR.
Moral of the story: Saving lives is not as rewarding as driving a major company into bankruptcy. - yourbrokenoven, on 03/28/2009, -1/+7The only reason they're hurting is because they're paying their top execs. crazy amounts of money. If they'd just pay them reasonably and use the money from my overpriced service to pay for the overpriced service, then they would have been fine.
And I agree. How do you lose money on a monopoly? This shows that the only reason they're going under is they're paying more to their execs than they had in income revenue from their customers. - KrazyMon2, on 03/28/2009, -0/+6I am not surprised by this at all. I have never heard anything but awful awful things about Charter. Even now and then you will hear something good about even Comcast. But not once have I heard of a positive experience from Charter. Has anyone ever had good experience with them??
- yourbrokenoven, on 03/28/2009, -0/+6Why are they rewarding poor performance?
- yourbrokenoven, on 03/28/2009, -0/+6I don't understand how they could have gone bust. I don't know anyone who has canceled their subscription even in these economic times (drink).
- retral, on 03/28/2009, -1/+7It's called prison, not jail. Federal pound you in the ass prison.
- yourbrokenoven, on 03/28/2009, -0/+6It's either Charter's 10Mbps or AT&T's 5Mbps. I didn't need a land line, and I figured I'd watch a little TV, so I reluctantly went with charter. The service goes down for about 6 hours at a time about twice a month whereas AT&T, formerly Bellsouth's internet at my parents' house has never gone down since after hurricane katrina in 2005. Even then, it took that big of a disaster to knock out service when Charter's goes down in clear weather.
- SuperV, on 03/28/2009, -0/+5People have become desensitized to how much money 1 million dollars is. With the talk of trillions sure 1 million sounds small. 9 million is a ***** of money no matter how you slice it.
- inactive, on 03/28/2009, -0/+5You need a phone to keep in contact with employers, you need the internet to find jobs but why the hell do you need sat/cable tv for?
Cable and Satellite companies should have been the first to go bust in this economy but its just happening now. It shows that people are still willing to pay for an unnecessary service while facing personal bankruptcy, foreclosure, mounting credit card debt, etc. - retral, on 03/28/2009, -0/+5This is what they get for establishing 100GB caps on their 10/1 plan. Who wants to pay for internet with a cap that can be reached in less than 24 hours?
- fury420, on 03/28/2009, -0/+5michael moore's movies are generally rather popular & successful.
the today show? also, popular & profitable
Charter Cable? oh, Chapter 11, bankruptcy, getting rid of $8 billion of debt via restructuring, yet pays themselves millions in compensation...
where is the comparison here again? - Treshnell, on 03/28/2009, -0/+5Charter hasn't turned a profit since like 1999. That's what the Centurytel guy told me when he was trying to convince me to switch to their cable networks.
- cowsgonemadd3, on 03/29/2009, -0/+4When my aunt and uncle got in financial trouble one of the things they got rid of was cable tv and it may have been charter.
- cowsgonemadd3, on 03/29/2009, -0/+3People cutting out their services has nothing to do with the executes for the most part but more to do "now" with the recession. Still they are overpayed in the first place before bonuses. When a company goes down you don't give out bonuses. If you think about it they just stole tax dollars or someones dollars and got away with it.
- chadpryor, on 03/28/2009, -0/+3Good ***** riddance. I had Charter Internet back in like 2002-2003 and it was the worst internet I've ever had including dial-up. Their service constantly went out, they had no English-speaking tech support, the speed was terrible and disconnect-prone, and it was expensive as *****. I'm glad this company is finally sunk.
- x713, on 03/28/2009, -0/+3"turned into"? You do realize they have been doing this ***** for quite a long time. We have just been apathetic because our lives were good.
- Dan6963, on 03/28/2009, -1/+4You might go to jail.
- hymneforthedead, on 03/28/2009, -2/+5the internet is a series of tubes made by teh cables!
- MarkOfTheDead, on 03/29/2009, -1/+4Mismanagement and Greed. The same way every other business failing right now is, including the ones living off of my unborn childrens' futures.
- inactive, on 03/29/2009, -0/+3The big boss in most companies risk their own money in their businesses, and they don't get bonuses when their companies fail. They are more likely to go bankrupt and lose their homes when things go bad. They aren't the problem.
The problem is with executives in large companies owned and funded by too many other people. When most stockholders only own a very tiny part of a company, no single person is the boss. Executives often line up the board of directors who rubber-stamp what the executives want.
When ownership of a company is so diffuse that no one feels responsible for what executives do in their company, we need regulation. Most shareholders don't get involved in selecting directors or CEOs and don't feel any responsibility for what their companies do or how they are run.
Ask yourself, what companies do you invest in, what are they doing and are they doing harm? If you don't know and don't care except as it affects your own bottom line, you are part of the problem too. - yourbrokenoven, on 03/28/2009, -0/+2I thought the cap was only on their highest 15Mbps tier, but yeah, I hope they reconsider any cap at all.
- marx2k, on 03/28/2009, -0/+2Hope this makes them rethink capping their customers, like me
- Downwritemad, on 03/28/2009, -0/+2The host? He makes $12.5 million.
- cowsgonemadd3, on 03/29/2009, -0/+2It's illegal for a everyday citizen to do it unless it was done 3 months? before filing bankruptcy. Somehow these big guys keep getting away with it.
- fandyllic, on 03/28/2009, -0/+1I can't be sure of this, but I believe Charter is losing lots of money due to a damaging partnership with AT&T and Microsoft related to IPTV and high-speed internet. This is the only thing that could explain a company with so many local monopolies losing that much money. Unfortunately, Paul Allen has umbrella'd alot of failed ventures under or financed by Charter.
- unpluggedboy, on 03/29/2009, -0/+1Yea but at least this wasn't taxpayer money right?
(Of course, by Monday, Obama could've injected billions into this company and make my point moot) - cowsgonemadd3, on 03/29/2009, -0/+1We dont have cable and never have. I can watch really any show commercial free online.
Search engine:
Survivorman "episode name here" watch online - vio3, on 03/29/2009, -0/+1Charter is the second worst cable tv service I had after Time Warner (it used to be called Adelphia before it became Time Warner. Sucks just as bad as Adelphia, so the name change didn't do much good really.)
- clichecow, on 03/29/2009, -0/+1I'm sick of everyone bitching about executive bonuses. These people are getting bonuses because the companies obviously feel that they deserve it. It's capitalism, deal with it.
- vio3, on 03/29/2009, -0/+1Welcome to the land of the bailouts for businesses that suck and go bankrupt because they suck (are also greedy bloodsuckers)! If Charter gets bailed out, well...that would really really be unfair to the taxpayers (even more as it is now with all the bailouts with our taxpayers money). Looks like Ultimate Corruption will be winning once again then :(
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