Home » Charter »Editorial & Site News »Internet Overcharging » Currently Reading:

Charter Cable Wants To Emerge From Bankruptcy And Overcharge Customers: Rate Hikes & Limits Under Consideration

Phillip Dampier November 19, 2009 Charter, Editorial & Site News, Internet Overcharging 1 Comment

charterYour company has been in bankruptcy since late March.  Investors wiped out, debtors in court fighting settlements, you try and hang on by keeping customers from fleeing for the limited alternatives.  You also overpay your management to make sure they don’t flee with annoyed customers.  Charter CEO Neil Smit, who waltzed Charter into bankruptcy under his leadership, effectively doubled his salary, becoming St. Louis’ top paid executive, negotiating a $6 million dollar bonus if he helped waltz the company out of bankruptcy.  If he agrees to do his job after that, he gets another bonus.  How nice.

Now that Charter is looking for the bankruptcy exit door, it’s time for someone to pay.  It won’t be Smit.  It will be Charter’s customers.

In addition to across the board price increases, Charter is also considering slapping Internet Overcharging schemes on their broadband customers with “consumption-based billing” sometime next year, Smit told Bloomberg News.

Charter’s failure didn’t come about because their broadband users are using their service too much.  It came from bad management decisions that have plagued the company since it went public in 1999.  Charter has never had a single year since when it did not report a loss, eventually accumulating an enormous $21 billion in debt through mergers and acquisitions and efforts to keep its position as the nation’s fourth largest cable operator.

Now, that same bad management team will be making all-new bad decisions to further alienate Charter’s remaining 5.3 million customers.  Many of them will be hearing from AT&T to switch to U-verse soon enough.

Perhaps instead of punishing customers, Charter should consider replacing the people that put the company where it is today.  If Charter needs money to upgrade their network, why not start with the ridiculous salaries paid to reward the people that failed the company and its customers in the first place.

Tell Charter Cable if they bring consumption billing to your area, you’ll waltz your business to the other provider in town.

Search This Site:

Contributions:

Recent Comments:

  • SumTinWong: So korea, how much bandwidth do you have to other countries. It's all nice and good if you got supergigabit but only get 1mbit to facebook/netflix. In...
  • Richard: In New Zealand using Vodafone Supernet (Coaxial Cable. Plan Speeds are 50mb/s / 2mb/s) Test just ran from Christchurch to other side of Australia, Pe...
  • G Hamar: Why am I not surprised at this - S.Korea is the de facto standard by which all others must now try to reach. You hear Comcast & Time Warner Cable...
  • Gaurav K. Guha: I live in Mumbai, India. I currently have a 50 mbps connection for which i pay 1200 rupees a month. Thats approximately 20 usd. So.... Haha!...
  • friesian: German here. For my VDSL2 broadband access with 50Mbps down and 10Mbps upstream I have to pay 30€ monthly... Just wondering about the Romanian pr...
  • Tom: No surprise.. 2 years ago, in the election race of the Governor of Gyeonggi Province it was the official pledges from one of top 2 candidates that he ...
  • roy: Nope. the latest M.2/PCIe spec is already at 20gbps...
  • KeyboardWarrior: Right now, on speedteset I got: 2.48Mbps download and 0.62Mbps upload 10am right now, no peak/ off peak nonsense either. So its just slow ever...
  • tycoonbob: While your point is valid, imagine if two different computers were downloading large files at the same time. That cap is no longer relevant. Also,...
  • german: in Romania 100Mbps up/down is $7(29 lei) and 1Gbps 13$...
  • fakename: @ EBOLAupYOURS Yeah because it's the techfriendly green companies that embrace new technology that is holding it back, i heard fibre uses oil to func...
  • Ryan: Is this the point where we will see the limitations of the end users technology failing to take advantage of the service? Data through a Sata III cab...

Your Account: