2 edits | Roberts going nowhere; but mgt could modify corporate plans »online.barrons.com/article/SB120···ives_topthe Roberts effectively control Comcast through ownership of super-voting stock that gives the family about a 33% vote despite economic ownership of just 1% of Comcast's 3 billion outstanding shares. Given the Robert's family has by far the largest % of the voting shares and controls the board of directors, I doubt Roberts is going anywhere.
But investor pressure could result in modifying current management plans and policies if other large institutional investors also speak out.
Chieftan's biggest complaint is that Comcast has consistently overpaid for acquisitions in order to fuel market size, but hasn't turned that in to commensurate profits. If Comcast is to quell shareholder complaints and possible lawsuits, they must start getting a better return on all those assets they have bought(turn Comcast in to a cash cow). I suspect there will also be significant pressure to put an end to their buying binge. But the FCC may have put an end to the buying frenzy anyway by trying to limit future growth of Comcast customers with the 30% cap they want.
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join:2000-05-11 | I'm sure the Regas clan thought the same thing about Adelphia...
It's never a good thing when the money starts complaining. With the economy tightening the investors want to see some real performance instead of hearing Roberts' mouth yapping about how good things are or will be "real soon now".
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