Charter CEO Paid Well For Failure

That's about it....

Charter has a well earned reputation for paying large sums of money to complete morons that only excel at making things worse instead of better. On top of that, after they jack things up beyond belief, they get fired and paid millions. I'm glad I jumped off of that sinking ship years ago. Idiots at the wheel -- the Charter moto.

So, how do you really feel about those running Charter?

I am glad that my Charter HSI has been flawless the last 18 months.

I am equally as glad AT&T is out in force today preparing UVerse which may not compete with DishNet ooooooooon the TV side but will give me options if Charter HSI starts that sucking sound again.

wow, just wow. This is everything that is wrong with America.

Where is the logic in doubling this guy's salary? I know it's the titanic he's driving, but still. That is pretty dumb even for Charter.

This is also true for Time Warner Cable. Their CEO's compensation was almost double that amount. During that time, the service and offerings went downhill fast.
It seems the more of a MORON you are, the higher the salary you get.
Welcome to America !!!!

Another one of America's dumba** CEO's. Brainless idiots.

I don't know much about Charter, but from a general point of view I have to question what the f*ck this country has come to when we reward complete idiots for failure. What's next? People getting into the National Honor Society for a full semester of D's and F's?

It's not wonder things are so bad today when we have morons running the big corporations, morons running the small businesses, morons in the House and Senate, and morons in the White House.

Actually I would reconsider you're statement. If he's so dumb why is he making $7.4 million dollars?! I'd say he's fu***ing brilliant
BTW: Does the CEO get a discount on Charter services?

But as long as he makes his money.

I would like to be CEO and I will only charge them 1 MIL. a year
and they will still loose $$$$$$$ but they will save 6 MIL. +

Sounds like a win win for me and Charter !

Lets see... they paid him $7.4 mil in CASH, and the companies market cap is $9.08 mil. All I can say is WTF! Are they stupid!

And who determines these salaries, other members of the board of directors that are on the compensation commitee. These other members usually are other senior exec's of other companies, so when they can pay someone this amount of money for failing they can go to their boards and say I'm worth a lot more then that, I didn't loose any money and they get it.

Yes. They are.

Is that a shit-eating grin or what?

Of course this is the reason corporate apologists who argue for corporations' "rights" drive me nuts. An entity not recognized in the constitution, derived entirely through legislation at the federal level, which allows the individuals involved to be completely responsible-free if the company fails, does *not* have the "right" to make as much profit as possible at the expense of the consumer.

The whole purpose of creating corporations was to encourage investment, bold leadership, and intelligent risk taking that along with strong competition would jump-start innovation in nearly every industry. So much for the American dream.

The resident Cable Company defense team? Usually when Karl posts an article like this, they come out in full-defense mode. very very interesting.

You bet. All employees get at least cable and internet for free. We didnt get phone when I worked there.

It's called the American dream because you have to be asleep to believe it.

Hey, I liked Charter's service. It was as good as my satellite and didn't go out when it rained and the HSI kicks the shit out of AT&T's joke of an internet connection. I got no problem with the service. It's just the morons that run the place that I have a problem with.

After spending 4 years in that circus... I'm really toning the language down about how bad that place is.

Reward for failure?
Sounds like a good business plan

As a stockholder in many companies I don't want to see overpaid execs even more so than many people here that hate corporations.

BUT, please remember that Charter probably didn't have any choice in what they paid the CEO in 2008. When he was hired the company signed a CONTRACT with his compensation no doubt laid out in pages of excruciating detail and checked over by a group of lawyers hired by Smit. They had a choice when negotiating the contract, but after that their hands are tied.

So, don't look for logic when trying to understand why an under-performing company doubled a CEO's salary after a bad year. That ship no doubt sailed before 2008 results were known.

What is needed are Boards of Directors that negotiate CONTRACTS that are tied much more tightly to meeting profit goals and not just the desire to get a so-called superstar CEO. And there should be terms that allow firing without any golden parachutes if the goals aren't met.

Will that mean, the Board won't always get the person they want? YES!! But if more Boards followed this practice, then prices will come down on CEO salaries and more accountability will be in the contracts.

man why can't I get sweet jobs like this?

I will quit answering posts....

Man I thought being a good tech was worth something. Apparently I am in the wrong profession.

Well... it is Charter we're talking about after all.

why dont i get payed out millions ?????

big businesss is a real sick thing.one more example of stupidity and greed.

this system is broke and it needs fixing !!!!

...would they pay this guy if Charter actually turned a profit?? Did they double the wages of all of Charter's employees, too?