A spurt of insider buying by executives at battered Charter
Communications Inc. has triggered speculation that chairman Paul Allen may be adding
to his holdings at the cable operator.
Four senior executives, including CEO Carl Vogel, have bought shares in the
past two days.
The purchases by chief financial officer Kent Kalwarf and executive vice president Steve Schumm
were relatively small.
But Vogel bought 49,000 shares for about $4.50 each, or $220,000. He also
spent another $450,000 buying convertible bonds.
The buying seems intended as a show of confidence in Charter, shares of which
have dropped 70 percent in recent months amidst the Adelphia and WorldCom Inc. accounting
But the biggest show of confidence would come from Paul Allen, who remains a
multibillionaire despite his huge $5 billion-plus losses on Charter