Home » Consumer News »Editorial & Site News »Internet Overcharging »Time Warner Cable » Currently Reading:

Cashing in On Your Time Warner Cable Rate Increase: Top Executives Sell Shares, Earning Millions

While your cable and broadband bill increased in 2010, so did the net worth of some of Time Warner Cable’s top executives, compensated in part with shares of company stock.

Chairman, President & CEO Glenn Britt sold 50,000 shares of TWC stock on 02/26/2010 at the average price of $46.44 a share.  While he ponders whether or not to slap limits on your Road Runner broadband service, he can run his fingers through a cool $2,322,000 from this stock sale alone.

Chief Operating Officer Landel C. Hobbs, the man that said Time Warner Cable needed the money earned from Internet Overcharging to afford costly network upgrades, did better than Britt last week when he sold 57,000 shares at an average price of $54.58 a share.  Perhaps chipping in some of that $3,111,160 in extra compensation would help things along.

It doesn’t just stop there:

  • Senior EVP & CFO Robert D Marcus sold 28,504 shares of TWC stock on 05/27/2010 at the average price of $54.21 — $1,545,201.84
  • TWC Ventures Carl Uj Rossetti sold 13,154 shares of TWC stock on 05/27/2010 at the average price of $54.40 — $715,577.60
  • EVP & Chief Technology Officer Michael L Lajoie sold 9,169 shares of TWC stock on 05/03/2010 at the average price of $56.37 — $516,856.53
  • EVP & Chief Strategy Officer Peter C Stern sold 3,676 shares of TWC stock on 04/26/2010 at the average price of $55 — $202,180
  • EVP & Chief Strategy Officer Peter C Stern sold 1,483 shares of TWC stock on 04/05/2010 at the average price of $53.32 — $79,073.56
  • EVP, General Counsel & Secretary Marc Lawrence-Apfelbaum sold 1,394 shares of TWC stock on 04/05/2010 at the average price of $53.32 — $74,328.08

In total, for just the months of April and May and the first week of June, seven executives have extracted more than $8.5 million dollars for themselves.

You got a rate increase to help make all that possible.

Currently there is 1 comment on this Article:

  1. Duffin says:

    It is so infuriating that we can’t do much about this. In most areas, there isn’t an alternative, so it’s not possible to “vote” with your wallet. And most politicians would rather take the cable’s money than help the people who voted them in get fair competition. How do you keep from getting so disillusioned that you just give up?

Search This Site:

Contributions:

Recent Comments:

  • d0764: If they go after ATT for this then I sure as hell expect them to go after straight talk which does the same thing. Hell straight talk is very corrupt ...
  • Me: I live in ottawa and on oct 22 some of my channels disappeared. Without any warning. Not too happy. Had to order the adapter. Could of saved some time...
  • vzappeal ebook: Attractive portion of content. I simply stumbled upon your blog and in accession capital tto say that I acquiree actually loved accoint your blog po...
  • William: I seem to be in the same situation. These are a few of the points I demand a solution to. Many of my clients have been paying for DSL Max though t...
  • finest food: Wonderful site you have here but I was wondering if you knew of any discussion boards that cover the same topics discussed in this article? I'd real...
  • diet pills work: Very good blog you have here but I was curious about if you knew of any message boards that cover the same topics talked about here? I'd really love ...
  • body boost: Hello, this weekend is good in favor of me, because this point in time i am reading this fantastic educational article here at my house....
  • Michael: I had U300 & 24mpgs (Max Turbo) internet. I called - spoke to a nice lady, who tried to rebundle me with a home line - not interested. I was alrea...
  • Kate: My 2 year contract expired in September and the bill jumped $50.00 for a bundle of voice, internet, and tv. I compared packages with competitors f...
  • AC: I have this distinct feeling that nothing will change since they pretty much never lift a finger and the revolving door bureaucracy will keep milking ...
  • Jim Livermore: I don't watch enough on YouTube to really notice, but the option to pay for an ad-free experience would be nice. I have noticed Hulu+ is lowering the ...
  • Rob: Interesting that big cable's response has absolutely nothing to do with the internet speed C Spire's Fiber to the Home is bringing to Mississippians. ...

Your Account: