Tuesday, October 16, 2007

Comcast CEO Goes Crawling to Wall Street?

...to explain why his stock price is performing 22% below the S&P.

This is one of the more fascinating details of Diane Mermigas's latest MediaPost column. An excerpt:

The campaign coincides with recent reports from industry analysts that highlight the schism between Comcast’s stellar financial performances this year and its languishing stock price. Some take a decidedly negative turn from what generally is positive, supportive coverage, such as Goldman Sachs analyst Anthony Noto, who examines Comcast’s “new extreme downsides.” Noto has reduced his target price for Comcast to $29 a share from $34 a share. That’s based on revised estimates for a 10% loss in basic subscribers by year-end 2010, with minimal rate increases and an incremental 6% reduction in annual broadband net additions.

Gee, and what would be causing an exodus of subscribers? Hmmm....

25 comments:

John said...

Comcast has no idea about Customer service. They deny that they have a local office and insist that all calls go to their 899 # automatons.. They cut off my email with no notice or comment, for a week. I was in the middle of a family crisis and needed email for communication at a critical time. A crew pulled up outside my house and disconnected me because they detected "leakage" from a loose cable connection in my home. So rather than give me notice, try to fix something they turned off me service. It took a week of calling before their stooge showed up here.. and simply tightened a connection at the wall that had loosened several turns... As son as I can find an alternative, I will and what will that sort of behavior from them do to their stock price.. It has to drop with this much resentment...

Anonymous said...

Bob, thank you for letting me know that I'm not alone in my hatred of Comcast's deceptive pricing and non-existent customer service. I'm a grad student trying to make ends meet on my own for the first time. My roommates and I wasted multiple days waiting for them to come to install the triple play package, then our first month's bill was almost $150, not the $100 advertised.

I don't know where you live, but I just joined a consumer group called Consumer United that's lowering the cost of living in Massachusetts by lowering the prices on services like cable and insurance. They also negotiate better service terms. Their website is www.consumerunited.com.

I just thought you'd be interested because, like you, they're pissed off at how big service providers take advantage of us. Enough is enough and it is about time we consumers get a fair deal.

Anonymous said...

Tonight, emails to two chums - one on the West Coast and the other on the East Coast - who use Comcast have bounced back and in recent days, both have had problems with their service.

Brian said...

Further proof that we need more providers and more competition in the marketplace! I read in the Washington Post about a company called M2Z Networks (www.m2znetworks.com) that wants to challenge the cable-telco duopoly by offering a free wireless broadband service all across America but the FCC dismissed their offer. Dismissed it! Crazy.

http://www.washingtonpost.com/wp-dyn/content/article/2007/09/23/AR2007092300801.html

Someone ought to take a hammer and go visit the FCC.

Iris said...

Bob, when are you going to post the article by Washington Post today (Oct 18, Style section)? I cannot wait for more readers to learn about your website and the Post article. It is from the Post's article that I learned about your website. Finally an outlet to vent all the frustrations!

The Comcast VP that was interviewed by the Post said in the article that the fact that they have 25 million customers and they are satisfied at the services matter more than that Hammer lady who was the reason the Post wrote the article. Hello? If every company, organization, or government adopt that mentality, our society will never evolve into a better place! Besides, it's not that we are satisfied at the service, most people just don't want to bother. Like I should have canceled my Comcast service but the fact that I have to sit around all day again, waiting for another probably equally lame company to install my service is not an enticing idea.

Mark said...

Comcast is the reason I have DirecTV. Now, if I can only get rid of Comcast internet service (my only high-speed option since I play online games), I'd be happy. Too bad Verizon FIOS is still 2-3 years from coming to my neighborhood.

Anonymous said...

Comcast at the corporate level is facing a $5 billion yes $5 billion lawsuit for patent infringment. It was supposed to you to trial in November of 07, but it has been postponed until 08. It is for violating the way the internet goes to your computer. The guys behind the patent have no mecy and will make the blackberry case look like a kids party.
This is why comcast is so stupid.

Anonymous said...

I always write "Greedy Comcast" in the pay to line on my checks. Terrible company. Bad and expensive service!

Go Mona!

Anonymous said...

Bob - what's the deal w/ Comcast crying on Wall St. They are losing subscribers... but want to charge us sorry subscribers more for channels like NFL Network. Go figure. Isn't the NFL the biggest sport in the US? Aren't most red-blooded males into football? Raise my rates... charge me extra for the stuff I want. That's Comsucktic

Anonymous said...

Try working for them..it's even worst..they treat their service techs like dogshit and that's the truth..ask anyone of them...

Anonymous said...

If a customer isn't happy with Cumcast...go to Fios...immediately or Dish....

Anonymous said...

Comcast takes pride in having local offices in the communities it serves. How can you say they deny having local offices? I can understand frustration with things that may not work sometimes. If you think comcast hsi is undependable, try verizon dsl....DREADFUL! I also know that comcast treats its employees very well, and really shoot for the best customer service. By the way, how come the comcast haters can't spell or type? They seem very educated don't they? HHHHMMMMMMMM????????

Anonymous said...

To the comment above:
YOU ARE FULL OF SHIT..YOU MUST BE
ONE OF THEIR ASS SUCKING SUPERVISORS..EAT SHIT AND DIE..

Anonymous said...

I have had DirecTv for 10 years as I simply wanted to give the cable companies competition. That said, I have cable internet service from Comcast. While it is expensive, I have only needed to contact their customer service a few times and have gotten excellent service. I had problems getting a replacement modem running and was able to get a 2nd tier support person at 1:00 AM. He quickly solved the problem on Comcast's end. I have gotten good support from DirecTv so I stay with them for video. YMMV

Anonymous said...

This blog is working!!!! Thumbs up to all the supporters!!! Take a look at the stock prices. Investors are scared about Comcast not having the ability to earn new customers as well as loosing current customers. Maybe people are seeking out service that works. Verizon maybe? Look other places folks... There is more offered from other vendors. You will see. Soon Comcast and all of its counterparts will fall. Way to go BOB! Keep up the good work. I'M impressed.

I love gateway installs said...

IDEA!!!!

instead of sitting here bitching and complaining,. GO WITH COX. OR DISH, OR DIRECT TV... Fuck you people. we dont need you. Losing you is not going to affect are billions of dollars EARNED each year.

The Union Master said...

Comcast stock is dropping because more of their customers are switching to other forms of entertainment(sattelite,FIOS,etc).
People are tired of being deceived,such as the hard working employees of Comcast,In a Union Atmosphere,Pride and Dedication to customers would be restored,BECAUSE,(and listen very closely Mr. Roberts)DECENT COST OF LIVING WAGES WOULD RESTORE PRIDE TO ALL OF YOUR HARD WORKING EMPLOYEES..
SIMPLE
MORE MONEY=MORE PRODUCTIVITY
PRIDE AND LOYALTY TO THE COMPANY
PRESENT COURSE:
LOW MORALE
LITTLE TO NO LOYALTY
NO PRIDE IN WORKMANSHIP WHICH LEADS TO UNHAPPY CUSTOMERS=LOSS OF REVENUE UPON DISCONNECTING SERVICE.
Every Comcast customer and employee can relate to what I'm refering to,With a Union Shop,you would get better employees and better training for those employees,(and not Comcast University-bogus training school)
Real Training with Certification that would go a long way with an employee anywhere in his or her lives.
A decent wage to be proud of,A decent pension for their families to live on,better medical benefits,
etc.
In turn,An employee given these benefits would be proud of their job and would go the extra mile to give that customer what he or she wants and do it proudly as a member of a UNION..UNION PROUD=UNION STRONG AND RESPECT.
A UNION SHOP IS A PRODUCTIVE SHOP
ONE PROUD FORCE THAT PROUDLY DOES
THEIR JOBS AND WITH PRIDE,NOT OUT OF FEAR LIKE THE EMPLOYEES OF COMCAST ARE CURRENTLY UNDER..FEAR OF TERMINATION-POOR MANAGEMENT THAT DOES NOT CARE ABOUT THEIR EMPLOYEES-SUPERVISORS AND UPPER MANAGEMENT SCHEMES AGAINST HOURLY EMPLOYEES,I CAN GO ON AND ON..BUT YOU ALREADY KNOW,EMPLOYEES OF COMCAST.
You can change it..
you have the choice..
VOTE UNION TODAY!!!

you want respect from customers,officials,the public??
A UNION GIVES YOU THAT..WEAR YOUR LOCAL UNION LOGO PROUDLY-SHOW PEOPLE YOUR PRIDE!!

Want RESPECT from White Collar Do Nothing Management!! Release Your Power,watch them tremble...
GO UNION!!!

Feel proud about what you do,and get the CORRECT WAGES doing them!!

DON'T "SHORTCHANGE" YOURSELF!!!
GET RESPECT NOW!!
HAVE A VOICE IN YOUR PLACE OF EMPLOYMENT!!!
GO UNION TODAY!!

THANK YOU FOR YOUR TIME


UNION MASTER

tech 4 said...

If you keep the connections tight in your home you will not backfeed noise into comcasts system jacking up everyone elses service jackass. If you were home the tech should have and most likely knocked on the door.Who knows his options could have been cut you off or screw up an entire node if you even know what that is.

Anonymous said...

It starts with management that has no idea about how to value an employee. Turnover is among the highest in the industry and employees cannot speak up to suggest positive changes to help the company without being labeled a problem. Ever wonder why the word ComCastic came about...customers and employees fall way behind the line Top Exec's and management. Wake up!!! Take care of your employees and treat them with respect. Comcast bottom line depends on it...Brian R.

Anonymous said...

Comcast is horrible. Last night, I was online playing on a poker site. I'm on a 5 minute break, that was taking 10 minutes to end. Apparently, my connection was cut out for whatever reason. I unplugged the modem, did the normal computer stuff, and it still did not reconnect. So I had to call comcast. The guy basically told me to do what I already did, and when that didn't work, he told me that a technician would have to come out. I asked him if it would cost anything and he told me that he couldn't tell me that unless he actually scheduled the visit. Then, he recommended me pay a 2.95/month charge (insurance) so that if this ever happened again I would be covered. Later in the conversation, he told me that the technician's visit would cost $20. I asked him how it would cost me money, since it was their connection that decided to end for no apparent reason. He then told me that it happens sometimes (disconnection for no reason) and that its part of the system. I then told him how ridiculous that was because its a brand new computer, modem, wiring etc. and it wasn't my fault that THEIR connection ended. He then continued to tell me that the fee was policy and that there was no way to avoid it. I told him forget about it, I'll figure it out. Which I did, once I turned my computer off, unplugged my modem, and then turned them both back on. The connection magically reappeared and all was well again. Ever wonder if the company somehow does these things on purpose so you buy their 2.95/month stupid insurance? I HATE COMCAST!!!!

Anonymous said...

Comcast's customer service is so bad, it's laughable.

The tech that hooked up my modem couldn't figure out why the internet wouldn't work. He proceeded to turn off my firewall and virus protection which of course didn't work, as if I would even us the net with them disabled. After about 30 minutes of fail, he went out side to call for help. While he was gone I logged onto Comcast's setup site and downloaded the installer and a double click later the problem was fixed. When he came back I had to teach him how to do it. I'm sorry, but if your only job is to plug a poorly made coax into a cable box or modem and turn them on, you'd better know how to set them up.


On another occasion I was at a friends house. The cable went out during a boxing match we ordered. There wasn't even bad weather or anything. My friend called customer service and the woman that answered yelled at him and told him to "Watch a DVD then"


Comcast Cable is in for a rude awakening when FIOS and other alternate services are available. I wouldn't go back to Comcast even if they cut there prices in half.

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