Your cable bill? It’s Comcastic!!

For those of you who are Comcast victims from Hurricane Ike, check your most recent cable bills. Comcast is not automatically crediting you for any downtime you had as a result of Hurricane Ike. Instead, you have to call into the billing department and have them calculate and apply the credit individually. Wasting 15 minutes on hold? It’s Comcastic!! (713-341-1000)

Oh, yeah, they are also jacking up rates nationwide as of November 1st by 3.7% nationwide. We will have to see with the next billing cycle how much we get hit from this. On the one hand, there may still some protection left from the Time Warner separation agreement*, or we could get hit more as we “catch-up” to those Comcastic! national rates.

* I will put my editorial remarks into the comments.

UPDATE (10/29/2008): Comcast just released its third quarter earnings. They’re Comcastic!, too!

Comcast said its net income rose 38% to $771 million, or 26 cents a share. Excluding special items, the company reported earnings of 24 cents a share for the period, beating the average forecast of analysts polled by Thomson Reuters of 22 cents a share.

Revenue was $8.55 billion, in line with expectations and up from $7.78 billion in the year-earlier period. Its free cash flow jumped 77% to $928 million, thanks to reduced capital spending of $1.3 billion as the weak housing market led to lower equipment costs for the company. Capital spending in the year-ago period was $1.6 billion.

Comcast now expects to exceed its previous free cash flow target for 2008 of $2.3 billion, due largely to continued reductions in capital spending. It reiterated its previous forecast for revenue and operating cash flow growth of 8% to 10%.
“It’s good to be a subscription-based business when times get tough,” said Sanford C. Bernstein analyst Craig Moffett. “And it’s even better to be the only high capacity pipe into the home — in the overwhelming majority of markets — at a time when people are using more and more bandwidth, and are spending more and more time at home.”

With that kind of earnings, I’m feeling Comcastic! all over.

2 Responses to “Your cable bill? It’s Comcastic!!”

  1. Bill says:

    I have come to view the “protections” offered by the TWC separation agreement similar to how a prisoner views a condom. It may save you from other things, but it still hurts.

  2. rachel says:

    OK, ignoring that…

    We have Dish Network, but we were just thrilled to get our normal-amount electricity bill from Reliant, after 10 days without power! Supposedly, next month’s bill will be ‘adjusted’ – but I’ll believe that when I see it.

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