Britt

Another two weeks, another stock sale for retired Time Warner Cable CEO Glenn Britt. The man that oversaw a business now rated worse than the MERS coronavirus no longer has to worry about the day-to-day ordeals of running a cable company under fire. His biggest challenge is where to stash all the cash he collects selling off the generous profligate number of shares he received during 12 years at the helm of the cable operator, as well as those granted in his golden parachute retirement package.

Last Friday, Britt dumped another 30,000 shares on the open market at an average price of $136.04 a share. His total take home: $4,081,200.00.

Incredibly, no matter how many shares Britt sells, he seems to end up with the same number he started with. The Legacy reports Britt still owns 177,542 shares in the company after the sale, worth an estimated $24,152,814. That does not include what he has cashed out over the last several months.

When you consider your last rate hike, remember one of the “increased costs of doing business” facing Time Warner Cable is paying exorbitant salaries, bonuses and benefits to top executives that increase annually. That is money out of your wallet.