Saturday, June 25, 2016
ETHICALLY CHALLENGED CORPORATIONS CAUGHT
Time-Warner Cable and Charter Communications were criticized by a U.S. Senate Committee. Three companies were cleared.
'Time Warner Cable and its new owner, Charter Communications, have consistently failed to provide refunds to customers who the cable companies knew were being overcharged, according to a six-year U.S. Senate investigation.
The companies say they're working to make amends.
The investigation found that "Time Warner Cable and another company, Charter, made no effort to trace overcharges they identified and provide refunds to customers," said Sen. Rob Portman, an Ohio Republican, in a statement. He is chairman of the Senate's Permanent Subcommittee on Investigations.
Portman charged that their practice has been to pocket the money rather than correct their mistakes, something that he called wrong and unacceptable.
The subcommittee's probe reviewed how five companies — Charter Communications, Comcast, Time Warner Cable, DirecTV and Dish — identify and correct overcharges caused by company billing errors. Charter and Time Warner were the only two companies to not handle overcharges properly."
Glad to see some companies were playing by the rules. Anyone who says we don't need government regulation of business,or that free markets will prevent corruption, is deluded and doesn't understand the reality. There are too many ethically challenged, corrupt, scoff-law companies out there. See prior post.