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Charter Communications, or Charter Cable TV is a company which provides cable tv, high speed internet, and television services to over 5.7 million customers, in 29 U. S. States. The company is traded on NASDAQ stock exchange under the symbol CHTR. The company’s stock peaked to $27.75 per share in November 1999, but fell to less than $1 in 2002 because of many complaints to the Better Business Bureau about their service and billing practices. It is the third largest publicly traded cable operator in the U. S., third only to Comcast and Time Warner Cable.
The company was established in 1993, in Delaware. By 1998 the company was servicing over 1 million people. By 1999 they were servicing over 3.9 million and in 2002 they had 6.8 million customers, and now about 5.7 million as of the last report acquired.
The company was charged with accounting fraud in 2001/2002 and four former executive members were given criminal indictments in 2005. The company was under financial pressure after some serious acquisitions were filed. The company decided to sell some 43,000 customers in Nevada, Colorado, New Mexico, and Utah, to the Orange Broadband Holding Company, on March 22, 2006. They are also going to sell their cable systems in West Virginia and Virginia, to the Cebridge Connections. This company is now known as Suddenlink Communications. They are also selling their cable systems in Kentucky and Illinois to New Wave Communications. In 2006 Charter Communications increased their sales of cable telephone services using VOIP. , or Broadband Telephony technology. The company suggests that the customers use a battery backup in case of a power outage.
Many customers have complained about Charter Cable because of their poor customer service and support. Many customers complained of improper billing inconsistencies and a lack of a decent charter cable tv guide. The Better Business Bureau posted a warning to consumers about the company. The following statement is what the Better Business Bureau posted:
The Better Business Bureau has received numerous complaints regarding this cable, digital tv, and high speed internet access provider. Complainants primarily allege that the firm had improper billing practices, referred customer bills to collection agencies in error, provided poor customer service, used misleading advertising, provided defective internet or cable performance, used improper sales tactics or misrepresented the actual costs of installation and service, failed to properly install or maintain, damaged customer’s property, and failed to honor service appointments.
On Monday, January 21, 2008, while doing an account of inactive accounts Charter accidentally deleted the email accounts of approximately 14,000 customers and they cannot retrieve the information. The company has given a $50 account credit for the mistake, to each of those who were involved. From the information which has been noted here, it appears that the future of the company is unknown.
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