My cable company--Charter Communications--is bankrupt!

How does that work, exactly, when they keep raising and raising and raising the bill?

Some economic genius, please explain to me how a humongous company can go broke while maintaining a total area monopoly... simultaneously shaking people down for more and more bucks... not to mention the endless nickle and diming with ridiculous service fees. And they went broke? Say what?

I don't get it. And it is not explained in the following piece, either, it just says Charter was "struggling." Okay, why are they struggling?

(Let's hope we get some choices now, but I won't hold my breath.)


Charter Communications to file Chapter 11
The Associated Press • February 12, 2009

PHILADELPHIA — Struggling Charter Communications Inc., the nation's fourth largest cable operator, said Thursday that it plans to file a prearranged Chapter 11 bankruptcy by April 1.

Charter, which is controlled by Microsoft co-founder Paul Allen, said it has reached an agreement in principle with certain debt holders to reduce its debt by $8 billion in exchange for combinations of new debt, cash, common shares, warrants to buy stock and preferred shares.

Allen will remain as an investor and retain the largest voting interest in Charter. But Charter's common stock will be canceled, meaning shareholder stakes will be wiped out. Allen has invested over $7 billion in the company.

In a prearranged bankruptcy, a company enters into reorganization with a plan to emerge that has the approval of major stakeholders.

Charter also said two of its subsidiaries will make a $74 million interest payment before the 30-day grace period for debt that was due on Jan. 15 expires. About $1.9 billion of debt comes due next year. Overall, more than half of Charter's $21 billion in total borrowings will mature by 2013.

Charter reported that fourth-quarter revenue is expected to increase by 6.6 percent to $1.66 billion, with adjusted earnings before interest, taxes, depreciation and amortization up nearly 10 percent to $620 million.

Charter has been skirting insolvency for years, but this time it faces a brutal combination of tight credit and billions of debt coming due. The company hasn't recorded a profit since it went public in 1999.

Shares of Charter tumbled 4 cents, or 54.6 percent, to about 3 cents afternoon trading. The stock earlier hit a low of 2.5 cents.

Does this mean we still have to pay the bill? :P

Wordless Wednesday: Feline Urgent Rescue

I dropped by Feline Urgent Rescue on Laurens Road yesterday. This one is still lodged in the old Petsmart; the new one on Woodruff Road has glass cages, and I don't like it very much. I like this one, since I can stick my hand inside the cages. (Yes, probably some liability issue, and some kids have likely stuck their hand in the wrong cage--but I have only been rewarded with purring.)

If I could, I'd take every single one home. I love them all. My best kitties have all been strays.

The second kitty is ENORMOUS, almost bobcat size, but a real sweet pussycat. But I think he might be hard to keep inside!

SC Bill would increase premiums on obese workers

At left: In case you needed any more proof that R. Crumb could predict the future. (from Zap Comix, several eons ago.)



In our sordid state news today:


SC Bill would increase premiums on obese workers
The Associated Press • February 10, 2009

COLUMBIA — Obese public employees would have to pay an extra $25 monthly for their state health insurance under a bill up for debate in South Carolina.

The measure sponsored by GOP Sen. Greg Ryberg of Aiken is on the agenda Tuesday in a Senate subcommittee. It would tie the surcharge to employees' body-mass index, a weight and height measurement.

The proposal follows a vote last August to increase health insurance premiums of public workers who smoke. The smoking surcharge is set to take effect Jan. 1, 2010. It was approved by a five-member board that oversees the state budget.

Smokers called it an unfair increase, since smoking isn't the only bad habit that increases health care costs.

South Carolina has among the nation's highest rates of obesity and diabetes.

As always, South Carolina loves to be first in all things. You've undoubtedly noticed by now!

~*~

More from recent Blogdonia excursions:

Lauren's post on class and feminism, titled Context.

Our state bird is disappearing. From TreeHugger: Is It Still a Carolina Wren If It No Longer Calls Carolina Home?

Attention local folks! (Upstate SC and Western NC) Please help save the Burton Street neighborhood, currently in the corporate cross-hairs as bureaucrats haggle over how best to expand I-26 in Asheville. Mountain Xpress has been doing a bang-up job of covering the proposed "Downtown Master Plan" for Asheville. (((applause for excellent work)))

Please, please, please do not ruin Asheville!

And finally...

Antiprincess's precious littlest patriarch, Wolfgang! Beware adorable baby picture!!! YOU COULD DIE FROM THE CUTE! (((makes gurgly grandma noises)))

Another reason Lindsey Graham is on my last good nerve

Senator Lindsey Graham never stops running his mouth. Photo by George Gardner of the GREENVILLE NEWS.



In addition to being an annoyingly hypocritical right-wing closet case, he is voting against the stimulus:



Graham plans to vote against Obama's stimulus plan

By Jenny Munro • BUSINESS WRITER • February 9, 2009 • GREENVILLE NEWS

Calling the proposed $827 billion stimulus plan "an orgy of government spending," Republican Sen. Lindsey Graham said today he plans to vote against the legislation when it comes up for a vote, probably Tuesday.

Graham said he’s received plenty of calls from South Carolinians who said they don’t know what to believe about the legislation.

"I believe we need a stimulus package. I believe we need to do more than cut taxes. We need to spend," he said during a Greenville press conference before returning to Washington, D.C. But this legislation is much too large and "is a spending bill, not a jobs creation bill."

He said a major disappointment "is that little in this bill deals with housing," he said. "Until you get housing stabilized, prices stabilized and banks working, you won’t stimulate the economy."

The Obama administration is likely to return to Congress in the future, requesting at least $500 billion more for housing and banks, he said. If that occurs, he plans to suggest that the stimulus bill be reopened so some of the money can be directed toward those sectors.

Graham said he favors extending food stamps, extending unemployment benefits, beginning shovel-ready infrastructure projects, cutting taxes for businesses so they can create jobs and providing general aid to states.

"This package failed in every way," including creating a bipartisan environment, he said. "Count me in for stimulating the economy and creating new jobs. Count me out for growing the government."

The real problem, he said, is that "nobody’s thinking about the future." He said he fears that future generations of Americans might be the first that won’t have a reason to expect to fare better than their parents.

The #1 Republican attack dog is, pardon expression, FULL OF SHIT.

Any comments on the stimulus or on Graham? Have at it, my lovelies.


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Listening to: Nada Surf - Your Legs Grow
via FoxyTunes

Dead Air Search Terms

One of the truly terrific things about Sitemeter and Statcounter--you can track the search terms and exact words (on Google, Yahoo and other search engines) that bring folks to your blog. These are the actual terms that people enter, that bring up my blog. (This means I have used these words in some combination, not that I am necessarily what they are looking for!)

Some of the search terms are pretty scary, some are interesting and make me curious, and others make me laugh so hard, tears literally run down my face.

Announcement: I've decided SEARCH TERMS needs to be a regular feature of DEAD AIR! They are just too good not to chronicle here.

~*~

First installment:


movie of dead grandfather who doesn't realize he is dead body parts keep coming off

Daisy Duck porn

comic books of animal sex with humans and animal rights?

amanda knox diary things she wrote in her diary are completely disgusting, not to mention some of the filthy short stories she wrote for creative writing

nipple rubbing rock music NOW!

Kevin Cronin diabetes commercial

Octuplets mom is a head case

Michael Phelps naked bong

Iggy Pop naked Michigan

transgender Deadheads for Obama

Popular black names for white people?

Steely Dan the antichrist

radical feminists with vegetarian cats

Pete Townshend gay for HOW LONG?

"berkeley" "deadhead" "greek" "murder" "camp"


~*~

(Yes, really curious about that last one... sounds like a fascinating story!)

Well, sports fans, that's it for this installment, but stay tuned. I get great ones all the time!


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Listening to: The Beatles - She Said She Said
via FoxyTunes