Unintended Consequences

The long suggested bankruptcy filing of Charter, the country’s 4th largest Cable TV company has happened – they filed chapter 11 to avoid its responsibility to repay its bond holders today.

Reuter’s Story

Paul Allen of Microsoft fame will still control 35% of the voting power of the company even though he only owns 7% of the stock.

Tags: bankruptcy, Charter Cable

This entry was posted on Friday, March 27th, 2009 at 9:59 pm and is filed under Bankruptcy Watch, Financial Collapse. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.