Home » Consumer News »Time Warner Cable » Currently Reading:

Time Warner CEO Wins Contract Extension – $17 Million Compensation Package

Phillip Dampier August 3, 2011 Consumer News, Time Warner Cable 4 Comments

Glenn Britt

Time Warner Cable has notified the Securities and Exchange Commission that the cable company has extended the contract of current CEO Glenn Britt through at least the end of 2013, an extension of one year.

As part of the contract deal, the cable company added provisions for “long-term incentive compensation,” a combination of salary, bonuses, and other financial incentives designed to keep a CEO from looking for greener pastures elsewhere.  Britt’s package is anticipated to be worth at least $17 million over the period 2012-2013, which includes a base salary of at least $1.25 million, and much of the rest coming from bonuses.

Britt is likely being rewarded for the company’s strong financial results and stock price, which has been high recently.  But the cable company continues to lose cable-TV video customers, and is finding increasing resistance to rate increases from cash-strapped consumers being priced out of the company’s packages.

Currently there are 4 comments on this Article:

  1. John says:

    And these clowns wonder why I dropped their service. It’s really hard to justify all these ridiculous rates they’re charging these days. They want a box rental fee plus a DVR service fee which is nothing but a quick cash grab. Believe me TW will not give you a box with a HD in it capable of recording and disable it until you pay for DVR service. Plain and simple unless you agree to their price gouging you will only get a regular box. Not to mention their lovely $99 triple play bundle which ends up being more like a $140 triple play bundle after all of their hidden fees are added in.

  2. jr says:

    “Bandwidth hogs are using up all our money!”-TWC

  3. jordan says:

    Slime Warner CEO makes more in one year than my whole neighborhood does in a lifetime of slavery to the machine.
    And the day you try to do your metered billing again willl be the day I dump your service even if it means to go to a slower service.

  4. shawn808 says:

    Here come the CAPS fo’ SHO’…..

    Gotta pay the FAT CAT

Search This Site:

Contributions:

Recent Comments:

  • Leedar: 'Conveniently' for South Korea and other culturally insular countries international traffic doesn't matter so much, because there is a local version o...
  • Daniel H: Except the other side of the story is was that he used his employer in the phone call to extract an advantage. If he did mention he was employed by Pr...
  • feather bed: Quality articles or reviews is the important to attract the viewers to pay a visit the website, that's what this website is providing....
  • Ralph: I absolutely love this comment, “As we’ve said before, the speed tests are the result of self-selected, self-reported samples,” Page said. “People who...
  • onlinehairclinic: Some infectionhs such aas fungal infections of the scalp, an underlying diseaselike diabetes orr lupus, scarring due to wearing pigtails, coornrows o...
  • Dekay: I was one of those unlucky Millenicom customers who just had their plan ($90/month) abruptly terminated. To get the same plan through Verizon would co...
  • Damian: Thank you for this article. I am currently with Comcast and have 50 Mbps internet speeds. I pump out a monthly average of 600 GB of data usage each m...
  • AustinTX: It's almost like Comcast has a crack team to identify anyone who is getting close to exposing them... and then giving them the push they need to go co...
  • James Cieloha: I prefer that the FCC comes with the idea of the most severe stiffest punishment handed down from the FCC being called the euthanization death penalty...
  • BobInIllinois: As a licensed CPA and auditor, this is very shocking, but very believable when one works for a Big CPA firm. I worked at a small firm, so this kind o...
  • Haiyez: I just got off the phone. I have U450 & Max Plus internet. I was paying $140 a month. The promo is over and now it's about $200 a month. Bes...
  • Fred Pilot: When a service provider views its customers as adversaries, an act like this is construed as enemy action, resulting in the blow up reported here....

Your Account: