Comments on news posted 2016-05-11 12:30:02: As promised, new Cablevision owner Altice is getting right to work trimming the fat at the New York City metro area cable and broadband provider. ..
This hating on the rich is getting completely out of hand now. So he has x billions of dollars, now what? If he doesn't want to pay those salaries, he doesn't have to. If this drives customers away, and the business fails, he'll have less billions, oh but wait, our own moronic monopoly (read franchise) laws, mean that the customer really doesn't have anywhere to go, so what's his incentive to maintain the service quality? You are hating on the wrong person, channel your hatred towards the politicians that allowed this state of affairs to exist and destroyed any concept of free market in the ISP/telecom industry.
The rich brought it on themselves IMO, The world has a widening wealth gap and the rich get richer while people who work for a living find stagnant salaries everywhere.
I mean seriously right now if someone bombed Wall Street to dust you would find most of America calling them heroes not terrorists.
At the higher executive levels (everyone must have connections), but valuable advisors are something much different than the typical knowledge worker has.
Everyone knew this would happen. Like the psycopath Gordon Gekko, the CEO of Altice is going to layoff as many people as possible, try and pay off renegotiate to pennies on the dollar the massive debt they took on for the aquisition, and fail to upgrade anything. I pity the people who are stuck with cablevision as their ISP, things are not only going to get more expensive, they are also going to be stuck with 20 year old technology. Altice is like the DSL of cable companies, slow, overpriced and doomed to failure.
There, I fixed it for you. Drahi has a nasty reputation of stopping payments, to force creditors into cutting debt by 30-40% or more, as his standard operating procedure.
kinda of hard to do that in the US till you file for bankruptcy which would kill his personal fortune....
Of course they do. Who do you think runs businesses. You think the Lt. in the field are making corporate decisions?
Executives are people too, they put their pants on just the same. I agree the helo is probably not needed at all, and most of these execs are not paid that much (as least compared to my co), so this is the visible belt tightening.
Make no mistake we sneer, but this belt tightening is going to impact the rank and file much worse than taking away helo privileges.
I took the Metro North from Danbury, CT area when I lived up there and needed to be in NYC. I saw people that clearly by dress had to be pretty high paid folks with the rest of us slobs on the train.
Just think some decade the LIRR will terminate in Grand Central too.
it was something I always found interesting in the NY area people across all job brackets can be found taking the train.
Dismissing the koombaya speeches about getting along won't get you in the King's chair either. Connections; for the most; does it.
BINGO!
It has very little to do with anything else, including how intelligent you are, how well you would perform the job, how much effort you make, ect... it's only about who you know and what they can do for you.
Well because their HQ is in the middle of LI and if they need to get to the city using the heliport is much faster. When you are paying executives millions of bucks, making them wait 2 hours in traffic is probably not a good idea.
You certainly think like an overpaid brass tack. (-:
Meh... I have a boss with questionable "valuable" knowledge.
From my own exposure, it's either connections or an excellent salesperson acumen that get you there, and very little to do with being a "valuable advisor."
Unless you're Warren Buffett, you're not gonna "get it right" every time.
"Corporate decisions" don't run the business. The staff who do the real work run the business. Executives read reports and then "flip a coin" to make a decision--seldom the best one for the business itself.
I just had to jump in here and point out the obvious. Isn't it funny that the ruthless, rich people spend their entire life trying to build all this wealth.. And when they die they cannot take it with them! That's justice right there.. What a waste of a life. All for nothing..
I just had to jump in here and point out the obvious. Isn't it funny that the ruthless, rich people spend their entire life trying to build all this wealth.. And when they die they cannot take it with them! That's justice right there.. What a waste of a life. All for nothing..
Indeed, I wonder if creatures like Drahi have a wife and children, and if so I would bet he is a ruthless with them as with anyone else...most of these types are sociopaths or possibly even psychopaths, that substitute brutal business behavior in place of actual murdering of others.
This hating on the rich is getting completely out of hand now.
I don't hate the rich. Fact is, I do quite well financially (combination of salary and investment income)-- enough that I won't talk about income with friends. People you've known for years will suddenly act weird if they find out you have money.
What I hate is the complete LACK of corporate conscience. Companies already making BILLIONS in profits will cut and outsource American jobs SOLELY to further increase profit beyond what is already a king's ransom.
I believe big corporate has basic obligations to its employees... the very employees who made those companies great in the first place. Those employees have families to feed and mortgages to pay.
A corporate conscience dictates you take care of the employees who make your business possible. Yet people like Drahi throw people in the trash like old furniture for sake of further enriching pockets that already overflow.
Layoffs and outsourcing should be a last resort, when a company is bleeding red ink. There is neither honor, nor humanity, in treating people as inanimate objects who can be eliminated by a click of the mouse on a spreadsheet.
Couldn't agree more! You hit the terminology perfectly! It's either one or the other and yes they do have a mental disease. I think they rather enjoy watching people lose their jobs, enjoying the misery of others. Not trying to get too far off-topic, but it just made me think how when people die, they're not taking anything from this world with them! Really need to look at the big picture. But those people are so small-minded they probably think this life, is all there is.. what a wake up call they have coming for them! whoops!
Everyone knew this would happen. Like the psycopath Gordon Gekko, the CEO of Altice is going to layoff as many people as possible, try and pay off renegotiate to pennies on the dollar the massive debt they took on for the aquisition, and fail to upgrade anything. I pity the people who are stuck with cablevision as their ISP, things are not only going to get more expensive, they are also going to be stuck with 20 year old technology. Altice is like the DSL of cable companies, slow, overpriced and doomed to failure.
There, I fixed it for you. Drahi has a nasty reputation of stopping payments, to force creditors into cutting debt by 30-40% or more, as his standard operating procedure.
kinda of hard to do that in the US till you file for bankruptcy which would kill his personal fortune....
Not true. You can stop paying your creditors without filing for bankruptcy. Bankruptcy gives you certain protections from those creditors.
But there is nothing preventing one from cutting off payments, then offering to settle for a lower amount before the creditor turns you over to collections or goes through the effort to collect the debt from you directly.
Nothing, that is, except honor and sense of conscience... qualities most business leaders are sadly lacking these days.
Charter moved its HQ from a STL suburb to Connecticut because of one man's preference -- Tom Rutledge.
And when he was at Cablevision guess who took a helicopter to work each day from his home in Stamford to NYC? Tommy Boy is a poster child for corporate waste.
"Corporate decisions" don't run the business. The staff who do the real work run the business. Executives read reports and then "flip a coin" to make a decision--seldom the best one for the business itself.
its the corporate lawyers who make the business decisions that are approved by the board executives first.
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