Time Warner Cable

The Time Warner Cable office on 23rd St near Park Avenue in New York City has something of the atmosphere of a soviet post office. Clerks staff a row of desks, calling customers forward at a languorous pace. During my visit, the queue stretched out of the door.

No one was there because they wanted anything from the company. Like me, they were there to give something back. When I took out a cable plan some months earlier, the company had insisted that I use one of its modems. I had to pay an installation fee and wait at home for a technician to turn up late and attach a cable – a ceremony I could have performed perfectly well myself. Now the company had changed its tune. I could use my own modem if I wanted to. But if I kept the one it had thrust upon me, I would have to pay rental of $48 a year. (The one I already owned had cost $18 to buy outright.) Read more

John Gapper

Charter Communications’ hostile bid for Time Warner Cable, on the heels of Suntory’s agreed $16bn acquisition of Beam Inc, puts me in mind of Percy Bysshe Shelley’s Ode to the West Wind:

Drive my dead thoughts over the universe

Like withered leaves to quicken a new birth!

And, by the incantation of this verse,

Scatter, as from an unextinguished hearth

Ashes and sparks, my words among mankind!

Be through my lips to unawakened Earth

The trumpet of a prophecy! O Wind,

If Winter comes, can Spring be far behind?

Like romantic poets, M&A bankers and lawyers are always trying to stir up activity, talking hopefully of their belief that deal-making is about to blossom. Perhaps there is some evidence that something is indeed stirring after the winter of recession.

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