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Robert D. Marcus has plenty to be excited about. After less than two full months on the job as CEO, he agreed to sell Time Warner Cable and exit his management role if and when the merger is approved. But he won’t be hurting, because he negotiated a bountiful golden parachute that will award him more than $56 million in exit compensation the day he leaves.
Courtesy: Jacobson
That is but one example of the kind of “innovation” Comzilla will offer Time Warner Cable customers. Others include charging top dollar cable modem rental fees, a broadcast TV surcharge, a completely arbitrary usage cap on broadband service, and an offshore customer service experience even more despised than what Time Warner Cable customers get.
Without actual head-to-head competition, there is no doubt we will hear executives crow to Wall Street that a supersized Comcast has plenty of room to raise broadband prices even higher and to cut company investments in innovation it won’t need to succeed in a controlled duopoly market.
AT&T and Verizon executives — Comcast’s largest competitors — have shrugged their shoulders about the merger deal, believing it will have almost no effect on their bottom lines. Why should it? Comcast has found a growth formula that works — a tap dance away from competition — buy out other cable companies to grow the customer base instead of winning ex-customers back with better service and a lower price.
It appears Marcus’ grand vision for turning Time Warner Cable around with a massive investment in faster speeds and better service is now dead. All that is left on the table is the vague notion of a “significant investment to improve reliability and to enhance our customer service.” In other words – we’ll do a better job to make sure the service you already pay big money to receive actually works and we’ll do a better job answering our phones.
Survey results show the proposed merger is not at all popular with Time Warner customers.
Nothing about Marcus’ spammed e-mail to customers is likely to change that perception.
That email was indeed pure garbage. After reading “There’s one thing Republicans and Democrats can agree on: taking money from Comcast” at http://www.theverge.com/2014/3/10/5491908/comcast-buys-congress, it is apparent that Comcast is doing everything possible to ensure approval of the purchase.
How this docent fall under monopoly laws blows my mind…
What was the point of the whole “deregulation” fiasco in the 90’s?
All I see is criminal activity taking place in behind the scene backroom deals.
In the end you and me will take it ” IN THE BACKEND “
This total SHAM of a “merger” should NEVER be allowed to take place!
There is no way such a massive monopoly could EVER possibly benefit consumers. It will only push back the development of newer and better services, and drive prices up.
Here is a good map that helps to visualize this nightmare:
http://news.yahoo.com/two-simple-maps-show-us-comcast-over-country-164537356.html
It’s hilarious, considering the CEO actually tweeted out that they weren’t promising to lower prices or even to not raise prices for awhile. How does this “benefit” anyone, then?