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Cablevision (CVC -15.2%) shares continue their descent in the wake of the surprise resignation...

Cablevision (CVC -15.2%) shares continue their descent in the wake of the surprise resignation of COO Tom Rutledge. No cable company was "as exposed to key-man risk as Cablevision," Ber... Craig Moffett writes, hailing Rutledge as "the hands-down best executive in the industry." The news is a particular concern given CVC's operational challenges in recent quarters, Wells Fargo says. (earlier)
Comments (1)
  • UndiversifyBC
    , contributor
    Comments (79) | Send Message
     
    Disclosure: I own CVC and bought more on 12/16 am.

     

    I'm not a big believer in these "super executives" having a significant effect on a firms intrinsic value. Especially as in this case where the business is pretty well fixed and just about a utility.

     

    There are probably legitimate concerns over trends in the industry and CVC competition but selling just because of "key-man risk" just seems a bit over reactive.

     

    18 Dec 2011, 04:07 AM Reply Like
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