Well, we have yammered for sometime about Charter Cable tanking and bankruptcy looming in the winds. It is about time. These entries are getting old.Not to beat a dead horse, but how can a company backed by the majority stockholder, Paul Allen, let the company go down in flames. Paul Allen co-founded Microsoft for geepers sakes. But then again he did leave the company. That is another head scratcher.
This guy sat on the fence for years watching the company continue to restructure it’s debt to finance further debt. I guess it was coming as Mr. Allen showed no interest in this St. Louis asset. Maybe this will finally boot him out and bring in a new management team versus a takeover. After all, Charter is the third largest cable company in the country offering services like networking, phone, TV, and computer surfing on the Internet.
If they don’t restructure management, the company will be on the auction block for a merger or takeover and the headquarters will move out of St. Louis like other companies have.
Leave it to the banks. The last I checked the stock was at .08 cents per share. Let the next chapter begin as Charter continues to write it’s book or saga. The next chapter is 11.
