Comcast Rates Increase in the Boston Metro Region
Comcast is raising rates in the Boston Metro Region again.
Rate increases seem related to excessive executive compensation at Comcast. SEC filing information in 2006 suggests that company’s operating expenses increased due to excessive compensation to the CEO and other top executives. Brian Roberts, the chairman and chief executive of Comcast Corp. received 12.8 million, a 36% increase in salary, bonus and other compensation for 2005, while Comcast shares fell 22%, according to the Securities and Exchange Commission. Some of Comcast’s shareholders are upset that CEO Brian L. Roberts made $27.8 million dollars in 2006 — a staggering increase of over 50%. A growing number of shareholders want more say in how much a CEO gets paid.
Comcast has lost about 65,000 basic cable customers nationally in the third quarter of 2007.
Comcast customers tired ofrate increases are switching to DIRECTV.