Tuesday, April 16, 2013

Dolan owners do fine while Cablevision stock sinks

If you're feeling a little pinched on cash these days, you still might not want to sympathize with the owners of Cablevision, the giant Delaware-based  cable TV provider owned by the Dolan family. We all know of Larry Dolan, the owner of the Cleveland Indians.  But there are others in the family who did quite well for themselves last year at the top of the cable system's ownership pyramid while the stock was diving.

The New York Times reported on Sunday that although the company's shares fell to half of their  previous value during an otherwise  strong year for the market, two of the Dolan chieftains personally ended up far beyond the financial curve.

The Times noted that James Dolan, Cablevision's chief executive, "earned $16.9 million last year and  his father, Charles, earned $16.6 million as chairman - an unusually high amount for a chairman who is  not serving  as chief executive".

Furthermore, the Times said, both men received twice as much as they did the previous year while the company's stock plunged to about $16 from  more than $36. (A company source said  that its sale of Madison Square Garden  and AMC Networks  could add maybe $16 dollars to the share price.)

I guess I should add a few other amenities  for the Dolan brothers such as  a full-time chauffeur and car, and access to a  helicopter and jet for personal use.

For all that, you'd think they'd help out brother Larry and buy a team capable of finishing in the first division.

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Considering how short Americans' interest span tends to be, don't you think Marco Rubio is pushing his envelope too far  in his four-year quest for the GOP presidential nomination  in 2016?  He's appearing  more often on TV than the weather reporters   with his advisories on how to guarantee clear skies ahead for the party. Nothing that he says these days is deeply engaging and grows even more boring as he robotically repeats his confusing message on immigration reform  and such.    Talk about overkill:  On Sunday he turned up on seven (!) network news shows, including Univision and Telemundo. If nothing else, thanks to TV's desperation to lamely offer  something politically  new and lively, Rubio may replace John McCain as the Sunday morning news talkers'  darling.

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