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Comments on news posted 2009-07-08 16:10:28: Ok, sure, Charter Communications hasn't been profitable since the company went public in 1999, posted a $2. ..

page: 1 · 2 · 3 · next


POB
Res Firma Mitescere Nescit
Premium
join:2003-02-13
Stepford, CA
reply to sonicmerlin

Re: Problem

said by sonicmerlin:

[...] So much for the American dream.
It's called the American dream because you have to be asleep to believe it.

ender7074

join:2006-11-21
Saint Louis, MO
reply to pizz

Re: I wonder where is..

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.
--
Does Microsoft mean small and squishy?

ender7074

join:2006-11-21
Saint Louis, MO
reply to DaSneaky1D

Re: No suprise

After spending 4 years in that circus... I'm really toning the language down about how bad that place is.
--
Does Microsoft mean small and squishy?


hopeflicker
Capitalism breeds greed
Premium
join:2003-04-03
Long Beach, CA
kudos:1

Failure

Reward for failure?
Sounds like a good business plan


FFH
Premium
join:2002-03-03
Tavistock NJ
kudos:5

3 edits
reply to morbo

Re: Pay for performance is just for the little fish, eh?

said by morbo:

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.
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.
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MSauk
MSauk
Premium
join:2002-01-17
Sandy, UT
reply to radougherty

Re: Too much infreeding

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


David
I start new work on
Premium,VIP
join:2002-05-30
Granite City, IL
kudos:101

That's it... I QUIT!!!

I will quit answering posts....

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


KrK
Heavy Artillery For The Little Guy
Premium
join:2000-01-17
Tulsa, OK
reply to pizz

Re: I wonder where is..

said by pizz:

The resident Cable Company defense team? Usually when Karl posts an article like this, they come out in full-defense mode. very very interesting.
Well... it is Charter we're talking about after all.
--
"Fascism should more properly be called corporatism because it is the merger of state and corporate power." -- Benito Mussolini

gorehound

join:2009-06-19
Portland, ME
reply to qworster

Re: $hit floats!

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 !!!!


SteveCon
IBEW 2222 Boston, MA
Premium
join:2004-09-02
Boston, MA

How much...

...would they pay this guy if Charter actually turned a profit?? Did they double the wages of all of Charter's employees, too?
--
UNIONS: The anti-theft device for working people.


rsa0

join:2003-01-25
Birmingham, AL

1/2 of that ...

I can bankrupt your company for 1/2 price....hell, gimme 1/8 and I will do it...cheaper, faster and better !!!


Chiyo
Save Me Konata-Chan
Premium
join:2003-02-20
Charlotte, NC
kudos:1

Its hard working losing that money

Man it must be awfully hard work losing that kind of money I wonder if they have a toilet in a fancy bathroom but you don't poop in it oh no you thrown 100's down the drain. maybe get side by side have races who's 100 goes down faster?
--
That was the wild boar.... Moo!
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fiberguy
My views are my own.
Premium
join:2005-05-20
kudos:3

2 recommendations

reply to gorehound

Re: $hit floats!

What "system"...? are you saying that government should take over and run everything? .. THAT would be a system.

They, the government that is no longer 'we the people' can't even get it's own affairs in order.. I sure hope that you're suggesting the government be the ones to "fix" the allegedly broken system.

When a company fails, such as this one, someone will ultimately come in and buy up the remains and give it a shot.. that is the system that works.

The millions this guy gets paid, in my mind, is irrelevant. Part of what went wrong with Charter was not complete incompetence, rather, the way the "system/market" works and oh yea.. "competition".. with out going into a long explanation as to the why of what I just said, I'll leave it at this for now.. but if anything, even for boobs, I am NOT about the giver-ment coming in to limit pay salaries.. besides, it's probably un-constitutional anyway.

On a side note, if ANY system needs to be fixed, its the people themselves that should look with-in to the "self-collective system".. ie: the people are not taking an active role in their own government.. until people start to care, the "system" as you speak of, is going to remain broken.


Rogue Wolf
Mourns the Loss of lilhurricane

join:2003-08-12
Troy, NY

2 recommendations

reply to FFH

Re: Pay for performance is just for the little fish, eh?

said by FFH:

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.
Yes, yes, a thousand times yes. Boards need to think beyond the next quarterly report and set up a beneficial long-term strategy for the company for which they are responsible. Getting a 'big name guy' in the CEO's chair should matter much less than getting someone who can be trusted to grow the company responsibly. Millions of people go to work every day knowing that their compensation and continued employment depend on how well they execute their responsibilities... why should CEOs be any different?

It's good to see that at least one stockholder sees things from the same viewpoint as us "little guys", FFH See Profile.
--
Hexadecimal humor really turns me 0FF.

fiberguy
My views are my own.
Premium
join:2005-05-20
kudos:3

1 recommendation

reply to matrix3D

Re: No suprise

First off, there is no "we" and no "country" that is rewarding these idiots for failure..

"This Country" doesn't employ CEO's.. well, until Obama came along in his quest to socialize everything.. and "WE" in the reward part of your message is not correct as "we" have nothing to do with how a business chooses to operate itself...

And to wrap it up and hit it home, the ONLY morons that are responsible for ANYTHING going on to this day are "we the people"... yes.. the PEOPLE are morons for putting "morons" in office and positions of power.. pretty sad when people fail to look at themselves for being a MAJOR part of the problem AND for blaming everyone else BUT themselves.

Corporations are still self operated.
Small Business is none of your business.
The house and senate and the white house.. That IS our business.

.. there were PLENTY of morons that put Bush into a second term.. start there.


Jigsaw
Stardust We Are
Premium
join:2000-10-21
Cleveland, OH
reply to matrix3D
said by matrix3D:

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.
You forgot And morons letting the shit happen.....
--
"It's called the American dream because you have to be asleep to believe it."-George Carlin

.............

loser, deadbeat ceo's in telecom make tons of $ with no results. charter, sprint, rcn, quest, etc

nutcr0cker

join:2003-04-02
Chandler, AZ
kudos:2

1 recommendation

reply to fiberguy

Re: $hit floats!

Perhaps he needs a tax break. everything will work fine only if we can give more tax breaks to the filthy rich

patcat88

join:2002-04-05
Jamaica, NY
kudos:1
reply to en102
said by en102:

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!
Time for me to refinance my house and buy Charter for the heck of it


nursemike

join:2001-10-14
Palm Bay, FL
reply to radougherty

Re: Too much inbreeding

You hit the nail on the head! Boards of directors are nothing more than one BIG circle-jerk, and John Q. Public are the pivot men!


koitsu
Premium,MVM
join:2002-07-16
Mountain View, CA
kudos:23

1 recommendation

reply to FFH

Re: Pay for performance is just for the little fish, eh?

said by FFH:

...
So what you're essentially saying is that the "business concept" -- that is to say, the methodology used to decide and negotiate said CEO's salary -- is flawed. If so: I'll agree with that.

But if that's true, I'm wondering why you own shares of any company? Seems you'd be smarter than to risk investing in something that's as shaky as stocks.

I'm one of those people that says "stock isn't real/worth anything until its cash in your bank account". This blows the minds of most people, especially those who put a lot of focus on stock and options. I don't believe in the stock market as a whole (read: I don't believe it's an effective economic environment), because all it amounts to these days is a form of legalised gambling. Every person -- I repeat, every person -- I know who owns stock in companies or "plays the market" is doing so for one reason: to try and make money. They really couldn't care less if there's economic repercussions from this idiocy (like said CEO's contractually-negotiated salary) -- they just want their money. The company they invested in fails? They still want their money. It's like a casino where no one loses... except those who don't go to the casino. Someone has to lose, and "who cares, as long as it's not me!"

Please don't take what I say on a personal level (honestly, please don't), I just think the sooner we stop basing our economic stature around something as fallible as the stock market -- which indirectly means hiring CEOs like this chucklef*** and other whatnots, ditto with allowing these fools to be given such large sums of material wealth (whether it be in shared or in cash) -- the sooner the country as a whole will be better off. Today's mentality behind how to build a company and how to run a company is bad, because the driving force is bad.

Even if Smit was to quit Charter right now and walk, he'd be hired at some other company (and probably not a start-up) to "fix things", and continue his downward spiral, destroying things as he goes. What is it going to take for people to put a lid on folks like this? Seriously: these people can walk in, destroy a company, and walk out like there's no repercussions of their decisions or actions. Don't argue with me either, because this kind of "business behaviour" has been going on for quite some time now.

I seriously feel like the only person on Earth who doesn't focus on monetary or material gain. If I want money, I work 40 hours a week, and do actual effort. If my efforts are crap, I'm fired -- it's that simple. And that's exactly how it should be when it comes to these shmucks...
--
Making life hard for others since 1977.
I speak for myself and not my employer/affiliates of my employer.

patcat88

join:2002-04-05
Jamaica, NY
kudos:1
reply to Rogue Wolf
said by Rogue Wolf:

Yes, yes, a thousand times yes. Boards need to think beyond the next quarterly report and set up a beneficial long-term strategy for the company for which they are responsible. Getting a 'big name guy' in the CEO's chair should matter much less than getting someone who can be trusted to grow the company responsibly. Millions of people go to work every day knowing that their compensation and continued employment depend on how well they execute their responsibilities... why should CEOs be any different?
Boards don't think. They show up reluctantly once or twice a year for a few hours since they are paid little if anything. They never read in deep, or have someone from the corp explain to them the proposals by phone the day before to get rubberstamped the next day. All the members have day jobs at other fortune 500s or in govt. Boards only exist to recruit investors and job placement obligations for their college frat/secret society buddies.

patcat88

join:2002-04-05
Jamaica, NY
kudos:1
reply to anon51

Re: Paid for failure

said by anon51 :

It seems the more of a MORON you are, the higher the salary you get.
Welcome to America !!!!
The higher the salary, the more qualified you are for the next job.


FFH
Premium
join:2002-03-03
Tavistock NJ
kudos:5
reply to koitsu

Re: Pay for performance is just for the little fish, eh?

said by koitsu:

Don't argue with me either, because this kind of "business behaviour" has been going on for quite some time now.

I seriously feel like the only person on Earth who doesn't focus on monetary or material gain. If I want money, I work 40 hours a week, and do actual effort.
Who could argue with you? Your mind is made up. Why bother?
--
My BLOG .. .. Internet News .. .. My Web Page


FFH
Premium
join:2002-03-03
Tavistock NJ
kudos:5
reply to patcat88
said by patcat88:

They show up reluctantly once or twice a year
quote:
Most boards meet much more than that- often once or twice a month in person and more frequently by phone
for a few hours since they are paid little if anything
quote:
I wish that were true. Benefits for board members often run to tens of thousands of dollars per mtg
. They never read in deep, or have someone from the corp explain to them the proposals by phone the day before to get rubberstamped the next day.
quote:
unfortunately for many board members that is true
All the members have day jobs at other fortune 500s or in govt.
quote:
Some do. But many are retired CEOs, CFOs, etc and most boards now have members from academia & community organizations
Boards only exist to recruit investors and job placement obligations for their college frat/secret society buddies.
quote:
some truth in that statement, but they do have fiduciary responsibilities that many take seriously. They can be sued if they don't act in a legal manner

--
My BLOG .. .. Internet News .. .. My Web Page

patcat88

join:2002-04-05
Jamaica, NY
kudos:1
reply to koitsu
said by koitsu:

I seriously feel like the only person on Earth who doesn't focus on monetary or material gain. If I want money, I work 40 hours a week, and do actual effort. If my efforts are crap, I'm fired -- it's that simple. And that's exactly how it should be when it comes to these shmucks...
Sounds like you want a capitalism/bourgeoisie free world, goto Laos, North Korea, Cuba, or Burma.

Making money by only owning money is the american way. If that doesn't work, start a bank, and print money yourself (federal funds loan currently .25% APR / sell 39.95% APR loans to anyone with a SSN and a pulse, then securitize the loan away), or you can do the old fashioned insider trading, and split the profits with the CEO through a Cayman bank account.

patcat88

join:2002-04-05
Jamaica, NY
kudos:1
reply to MSauk

Re: Too much infreeding

said by MSauk:

man why can't I get sweet jobs like this?
Your not of the right cut.

»www.youtube.com/watch?v=qoIvd3zzu4Y


Zen6

@rr.com
reply to anon51

Re: Paid for failure

As a consumer I have to agree that TW has been, and is run by complete morons. They currently have their bi weekly 3 day giveaway of service, thats where they try to increase sub numbers by giving away service. It is too bad there are still people who would buy stock in companies like this, then to have their money wiped out by mismanagement from the top down. Charter did this giveaway gimmick, as did adelphia just before they went under.

patcat88

join:2002-04-05
Jamaica, NY
kudos:1

2 edits
reply to Chiyo

Re: Its hard working losing that money

said by Chiyo:

Man it must be awfully hard work losing that kind of money I wonder if they have a toilet in a fancy bathroom but you don't poop in it oh no you thrown 100's down the drain. maybe get side by side have races who's 100 goes down faster?

»www.youtube.com/watch?v=HqcbgSpHMFs


i1me2ao
Premium
join:2001-03-03
TEXAS

i still fail

to see where these morons are worth this much money to fail. i read they pay to attract talent, where in the hell is the talent???????????????????????
--
calling a illegal alien undocumented is like calling a drug dealer a undocumented pharmacist