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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?

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  • GBlljhgfvbffg5365: This. The Full Price needs to be disclosed before you even sign up. Quite often I've found is that their is a $50+ Difference in the price they advert...
  • Allen P.: Terrible Internet speeds and the worst customer service. Unfortunately they are the only provider for my area. I would get rid of them if I could....
  • Jason: I am curious if the 50Mbps speed as the fastest they ever achieved if that was wired or wireless? What environment are they in? An apartment or a sing...
  • Angel: it should read "I’m NOW paying 4$ less than the original promo I bought last year". and you actually have to get to the cancellation department, the p...
  • fit body: Excellent blog you've got here.. It's hard to find excellent writing like yours nowadays. I honestly appreciate people like you! Take care!! My ...
  • Angel: It helps if you call back a few times, talking to different people yields different results. I had to talk to 3 different people before I finally land...
  • tacitus: I have found it's getting harder and harder to get the full price of a deal without going through the signup process. I tried to find out how much I w...
  • tacitus: The problem is that it works. It's the same psychology that lets people buy a second candy bar they don't need because they can get it at half-price, ...
  • John: I tried everything in this guide to no avail. TWC refused to lower my price. Oh well, I'm having the service disconnected. What good's the threat...
  • John: Which is why we have caps. Gotta love American "capitalism"...
  • John: Just tried this out, I have U450 and 24mps internet. My bill just jumped from $140 to $220, called and tried this, he originally told me that could dr...
  • fndjdkdkdkj: I don't see any value in god damn TV only to watch 20minutes of Ads ever god damn hour. I cut the cord long ago and have zero intention of ever going ...

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