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Why Comcast's CEO is more evil than Bill Gates

kiwimate (458274) writes | about 10 years ago

User Journal 1

With the recent talk about Comcast this and Comcast that, it's probably a pertinent time to remind people that Brian Roberts, CEO of Comcast, controls 33 1/3% of the vote at any shareholders' meeting. This is despite owning less than 1% of shares. From the above link:

With the recent talk about Comcast this and Comcast that, it's probably a pertinent time to remind people that Brian Roberts, CEO of Comcast, controls 33 1/3% of the vote at any shareholders' meeting. This is despite owning less than 1% of shares. From the above link:

In addition to CMCSA and CMCSK, which trade on The NASDAQ Stock Market, Comcast has a Class B Common Stock, which does not trade publicly and is held entirely by BRCC LLC (a limited liability company controlled by Brian L. Roberts, CEO and President of the Company) and two estate planning trusts of Mr. Roberts. The Class B Common Stock constitutes an undilutable 33 1/3% of the voting power of the total voting power of all classes of the Company's Common Stock.

Comcast, by the way, was started by the Roberts family. Just reward for their hard work? Or a flagrant abuse of power?

Why does Comcast needs Disney? They're already as Mickey Mouse a company as you can get.

1 comment

Huh? (0)

Anonymous Coward | about 10 years ago | (#8719050)

Maybe I'm missing something, but I don't understand your point. Why is the CEO of a company, from the family that started the company, having a large portion of shareholder voting power evil? Certainly it makes it a lot harder for the shareholders to kick him out of office, but it doesn't diminish his responsibilities to the company and it's shareholders...
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