Create your free account now! Sign up

Charter Bankruptcy Likly in 2009


Charter Communications consistently ranks near the bottom of the pack in consumer satisfaction rankings and has not been profitable since the company went public in 1999. Charter's stock also hasn't traded above $5 since January 2004, and the cable company is often among the last carriers to implement substantive upgrades because of the MSO's heavy debt load -- though the CEO seems to do ok. The company's persistent problems make it the focus of bi-annual rumors about either bankruptcy or acquisition.

Click for full size
It's about that time of year again, with Moody's downgrading Charter, stating that a default is imminent and bankruptcy is likely for Charter in 2009. According to the ratings agency, any bankruptcy would be "re-organizational" as opposed to liquidation, meaning customers might not be impacted. Charter CEO Neil Smit, as you'd expect, remains optimistic in a statement to the press:
Here, theses Cable Company's have a Great asset with Contractors and all they can do is Screw US, like Mediacom has done to us in Iowa. .............(flame)
This is CABL.com posting #235804. Tiny Link: cabl.co/m9vs
There are 4 replies to this message
Re: Charter Bankruptcy Likly in 2009 BaseTelecom 12/15/2008 9:38:00 AM
Re: Charter Bankruptcy Likly in 2009 fundude101 12/15/2008 1:15:00 AM
Re: Charter Bankruptcy Likly in 2009 Polehiker 12/14/2008 7:54:00 PM
Re: Charter Bankruptcy Likly in 2009 Splicer Life 4me 12/14/2008 6:36:00 PM