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Churn at Charter

By BroadCasting & Cable Staff -- Broadcasting & Cable, 10/7/2002 7:10:00 AM

Will Paul Allen save Charter Communications Inc.? Investors pounded its stock to an all-time low of $1.41 per share after the company cautioned last Wednesday that the third quarter wouldn't come in quite as planned. (Cash-flow growth is 0.7 points short of the 13.7 percent promised.)

Then Friday, the Street was furiously buzzing that CEO Carl Vogel resigned. (Not true).

That then shifted to rumors that chief financial officer Kent Kalkwarf had resigned. (Not true.)

Now, everyone is waiting for the outcome of a meeting between Vogel and Charter's mega-billionaire chairman Paul Allen this week in Seattle.

The long-scheduled meeting will have a new topic: Is Allen going to do anything more than tease investors that he might throw new money Charter's way?

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