It looks like Charter Communications Inc will be filing for chapter 11 bankruptcy, citing the loss of 1 billion dollars over the first three quarters of 2008. [Bloomberg]
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Couldn't happen to a crappier company. Here's to hoping that a better company buys Charter out.
@PHRoG: Hmmm, it murdered my post.
Well, this isn't exactly breaking news. Charter announced this a few weeks ago. Wanna hear something else fun? They are implementing bandwidth caps for subscribers...YAY!
What sucks is there really isn't any other options for me above 1.5Mbps. ='(
Help a Charter customer who's unfamiliar with bankruptcy law - will they continue doing business? Or should I shop for a different cable company?
Where did they see it last? Did they check behind the sofa?
@SybilDisobedience: Wow, if you have the luxury of shopping for a different cable company in your town, why did you wait until this happened?
We're stuck with Charter through thick and thin here. No competition from anyone on the horizon until they go out of business and the cable plant is snapped up by someone else. Most likely Comcast :-(
heh blurb from the article mentions that they have been operating at a loss for almost 10 YEARS now. hah how in the world does a company manage to suck THAT badly? And how have they not died yet...
@scoosdad: I don't know if we have much competition around here :) I just meant switching to satellite - should've made it more clear.
Oh no! There will be jobs lost! Quick, call Nancy Pelosi, get some money for them in the Spendulus bill before it's too late!!!!!
@Davan:
Basically, the company was created by buying up a bunch of other cable companies and paying way too much. Result: an incredible amount of debt.
@mangopants: Yes, THIS. I was trapped in St. Louis for three years in an area where there was no option for high speed internet except for Charter. The service was WILDLY erratic, at least half of the customer service people were horrible/snarky/misinformed (with two very notable exceptions that I encountered) and the picture quality when the service was actually working was muddy. Bleh. I hate Charter with a passion and I would tongue-kiss usual cable co. whipping boy Comcast before I would shake Charter's hand.
In short, good riddance to bad rubbish, and I hope it opens up Charter's markets for a decent company to go in and offer better services.
@mangopants: Charter has had the monopoly on suck in my area for years. I seriously hope these asshats with their sketchy subcontractor installers to their unintelligible Indian "tech support" just shrivels up and blows away with the rest of the garbage.
The infrastructure is here, come get it Comcast!
Same info bit as this- [consumerist.com]
Maybe take this one down?