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story category Charter Should Emerge From Bankruptcy In Weeks
With the traditionally awful customer support you've grown to love intact
11:04AM Friday Oct 16 2009 by Karl Bode
tags: business · cable · Charter Pipeline
Just a day after a court approved an extension of Charter's deadline for emerging from bankruptcy, a Judge approved Charter's new reorganization plan. In short, that means Charter could emerge from bankruptcy in just a few weeks, despite all of the fighting between Charter, founder Paul Allen, and the company's lenders. The plan trims about $8 billion of the company's $21 billion in debt from the balance sheets. "We will emerge as a stronger company with a significantly improved capital structure," says Charter CEO Neil Smit. Most Charter customers probably hope that "improved capital structure" will help the company improve its traditionally last place (across all industries, not just cable) customer support, while bringing DOCSIS 3.0 to more markets than just St. Louis.

Related:
  1. Charter Launching Powerboost October 15
  2. Getting Your Cable Carrier To Go That Extra Mile
  3. Charter Cures Cable Theft -- By Not Offering Cable To Anyone
  4. Charter Bankruptcy Extended
  5. Charter Offers 60 Mbps In California
  6. Charter Hits Senior Citizens With Rate Hikes
  7. Charter Chairman Paul Allen Facing Cancer
  8. Charter Eyeing 'Consumption Based Billing'
Forums » Charter Should Emerge From Bankruptcy In Weeks
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Post a:
Ox3g3n

join:2003-06-29
Iron Mountain, MI

Minneapolis?

I hope you mean, St. Louis, not Minneapolis
iansltx

join:2007-02-19
Golden, CO

1 edit

Re: Minneapolis?

That's what I was going to say. MN Mineapolis is primarily Comcast territory.

psafux
Got Grep?
VIP
join:2005-11-10

Re: Minneapolis?

said by iansltx See Profile :

That's what I was going to say. MN is primarily Comcast territory.
wrong.
--
Yes. the cat in my avatar is indeed mine.
fiberguy
My views are my own.
Premium
join:2005-05-20

Re: Minneapolis?

Um, in MN, Comcast has more subs than most all other providers combined... nice try though.

Karl Bode
News Guy
join:2000-03-02
Corrected, thank you.

AMDUSER
Premium
join:2003-05-28
Earth
clubs:
·RoadRunner Cable

Actually, Charter does run some cable systems in MN... [in at least one of the Twin Cities suburbs..]

--
Just because Charters bankruptcy plan was approved and they may be coming out of bankruptcy does not mean Charters financial problems are over..

»Re: october 14th charter restructing agrremnts may terminate

Van
Premium
join:2009-07-08
Washington, DC

People on this site

successfully scared me from getting Charter where I last lived.

I thank you all every day for that
markopoleo

join:2003-04-02
Bonne Terre, MO
·Charter Pipeline

Re: People on this site

said by Van See Profile :

successfully scared me from getting Charter where I last lived.

I thank you all every day for that
Why? You never go by other peoples experiences when it comes to internet. Some people have it a lot better than others than live down the street from them.

You can try it out before you commit, no reason to dismiss something based on other people.

Van
Premium
join:2009-07-08
Washington, DC
·Cox HSI
·Comcast

Re: People on this site

said by markopoleo See Profile :

said by Van See Profile :

successfully scared me from getting Charter where I last lived.

I thank you all every day for that
Why? You never go by other peoples experiences when it comes to internet. Some people have it a lot better than others than live down the street from them.

You can try it out before you commit, no reason to dismiss something based on other people.
Well it worked out for me because after awhile I got to know people with it and they didn't hate it...they despised it.

I dated a woman with it and it really was the 2nd worst experience of my life with a company....
Mordhem
Love it, Hate it.

join:2003-07-10
Baltimore, MD
·Comcast

My experience with charter was a great one in south Carolina in Gaffney. I had their triple play and it was great no problems quick internet speed surprising in a rural area like that, but hell compared to the dsl it blew it out the water and those speeds where great easily comparable to Comcast but a little more expensive. But I love the speed boost from comcast its almost god like on large downloads
--
Being Corporate is not a bad thing, its a matter of who you work for & how much they value you! I would not have it any other way!
BlakePaulson

join:2008-08-06
Alexandria, MN

That's just great... not.

Minneapolis is Comcast Territory...

Charter covers a lot of ground along interstate 94 and Rochester and Duluth.

n2jtx

join:2001-01-13
Glen Head, NY
·Optimum Online


1 edit

Do You Trust Them?

If I were a supplier of DOCSIS 3.0 equipment, or any other equipment needed to upgrade, I would demand payment up front for any equipment supplied to Charter. They are already writing off $8B in debt which means some creditors are going to get nothing or next to nothing. Since their financial history is now an open book, anyone who sells them anything on credit deserves any losses they may suffer down the road.

It never ceases to amaze me how a company's debt obligations can magically disappear through bankruptcy yet they can continue doing business. Having worked for a company many years ago that had customers declaring bankruptcy left and right and not paying us, one begins to wonder why anybody pays their bills at all. I was eventually laid off because they could no longer afford to pay me despite the fact the customers got the benefit of my work. They just didn't pay for it.
--
I support the right to keep and arm bears.
patcat88

join:2002-04-05
Jamaica, NY

Re: Do You Trust Them?

There are 2 people who can make money out of thin air.

Bankruptcy Court and the Federal Reserve.
MOTO6809

join:2007-11-05
Springfield, MA

said by n2jtx See Profile :

It never ceases to amaze me how a company's debt obligations can magically disappear through bankruptcy yet they can continue doing business.
Isn't that the American way now?

I have neighbors that did this and soon after they bought 2 brand new vehicles and still live in a $300,000 house.. I thought when you filed, your credit is shot for at least 7 years.

KrK
Heavy Artillery For The Little Guy
Premium
join:2000-01-17
Tulsa, OK
·AT&T Yahoo
·AT&T DSL Service
·Cox HSI
·AT&T Southwest

Isn't it amazing.

If I borrowed money, (like mortgage) and then called the bank saying "Sorry, I'm not paying you back... AND I'm keeping the property..." ... I'd either have to give it up or go to Jail.

However a company can borrow money and then just wipe out their debt and keep operating under a new name.
--
"Fascism should more properly be called corporatism because it is the merger of state and corporate power." -- Benito Mussolini

Hpower
Roflmao

join:2000-06-08
Glendale, CA
·Charter Pipeline

Meh

Well I guess this is better than having them being bought out which would lead to increase in prices which none of us want.

Although no one likes them for their horrible customer support and poor performance of their cable broadband connections, they are the only thing available for me as far as broadband. I will never bother with AT&T hell no, and def not DSL. Much rather have the faster speed of cable.
--
The Internet is about to go down....it is actually.

jarablue
Always be true to yourself

join:2001-06-11
Worcester, MA

Re: Meh

Such horseshit. Charter pretty much said "Thanks for all the hardware suckers, we're not paying you a dime." and the courts allowed it.

I hope Charter burns.

hootabius

join:2009-02-12


2 edits

Re: Meh

Actually your comment is horses**t. If you've been following the bankruptcy you'll know that Charter was allowed to refiniance its senior bank debt because it has never defaulted on debt other than the bankruptcy (the law allows for this to happen).

Charter has good relationships with its vendors and based on my past experiece, they almost always pay up front anyway. The banks aren't losing money, they're just pissed because they lost the oppotunity to raise the interest rates on existing loans. The only people losing money are Paul Allen and other investors. And as anyone who plays on the stockmarket will tell you, there's no such thing as a guaranteed safe investment.
KoRnGtL15
Premium
join:2007-01-04
Grants Pass, OR

Judge has no back bone....

So much for the ass chewing that the judge gave Charter. All talk and no action. Still ruled in Charter's favor. What a idiot. He was probably paid off. "sarcasm"
zed260

join:2007-09-30
Cleveland, TN

Re: Judge has no back bone....

actuly i belive they may have paid the judge id not be suprised

hootabius

join:2009-02-12
Actually I believe the Judge chewed out Paul Allen, or more specifically his legal counsel, for the plan calling for him to receive $200 million compensation.

HaloBox

join:2002-01-10

They're still alive?

When I left Charter 4.5 years ago for Verizon FIOS I thought they would be gone and buried long before now.

Apparently not.
watts3000

join:2002-01-21
Birmingham, AL

Re: They're still alive?

I have great charter service in my area hopefully they will be able to expand the 60meg offering. However, I do agree companies get away with entirely to much
Forums » Charter Should Emerge From Bankruptcy In Weeks


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