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.

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:Charter might ultimately decide to sell off some networks to shore down its debt, with Time Warner Cable remaining the most likely suitor.