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CWA Alerts Investors to Compliance, Code Deficiencies at Some Comcast Locations
Washington, D.C. -- The Communications Workers of America is raising some serious questions about Comcast Corp. (NASDAQ: CMCSA, CMCSK) operations that investors should be aware of as the company announces its third quarter earnings today.
In a letter to major Comcast investors, CWA pointed to problems uncovered by technical audits in Massachusetts, Michigan and California that demonstrate Comcast's noncompliance with a significant percentage of safety and electrical code provisions.
"If the deficiencies that the audits found are systemic, Comcast may have a need to make additional capital expenditures, may face liability from suits for damages or regulatory enforcement actions and may even face a risk to its brand name and reputation that could give its satellite television competitors an edge in the competition to win additional subscribers," the letter said.
In Brookline, Mass., for example, only 26 percent of the lines evaluated were found to comply with current safety codes, while in Contra Costa County, in California, a technical audit found some 75 percent of lines not in compliance with current electric codes.
CWA encouraged investors and analysts to question the company about these serious violations and what action Comcast planned to take to correct these problems.
In the letter, CWA raised questions as to whether the grounding deficiencies were systemic, noted concerns about the magnitude of damage to subscriber equipment and property as a result of grounding code violations, and asked investors to consider Comcast's liability to subscribers as a result of its non-compliance, among other concerns.
CWA also raised with investors the issue of Comcast's failure to comply with Federal Communications Commission system requirements, discovered through audits. In Massachusetts, the audit found that in 57 percent of locations, Comcast failed to meet the FCC's signal level standards. In Prince Georges County, Maryland, test results showed that several of the required standards were not met.
Copies of the studies from Detroit, Mich., and Prince Georges County, Maryland, are available at www.comcastwatch.com. For copies of the Contra Costa County, California, and Brookline, Mass., reports, contact CWA at 202-434-1182.
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In a letter to major Comcast investors, CWA pointed to problems uncovered by technical audits in Massachusetts, Michigan and California that demonstrate Comcast's noncompliance with a significant percentage of safety and electrical code provisions.
"If the deficiencies that the audits found are systemic, Comcast may have a need to make additional capital expenditures, may face liability from suits for damages or regulatory enforcement actions and may even face a risk to its brand name and reputation that could give its satellite television competitors an edge in the competition to win additional subscribers," the letter said.
In Brookline, Mass., for example, only 26 percent of the lines evaluated were found to comply with current safety codes, while in Contra Costa County, in California, a technical audit found some 75 percent of lines not in compliance with current electric codes.
CWA encouraged investors and analysts to question the company about these serious violations and what action Comcast planned to take to correct these problems.
In the letter, CWA raised questions as to whether the grounding deficiencies were systemic, noted concerns about the magnitude of damage to subscriber equipment and property as a result of grounding code violations, and asked investors to consider Comcast's liability to subscribers as a result of its non-compliance, among other concerns.
CWA also raised with investors the issue of Comcast's failure to comply with Federal Communications Commission system requirements, discovered through audits. In Massachusetts, the audit found that in 57 percent of locations, Comcast failed to meet the FCC's signal level standards. In Prince Georges County, Maryland, test results showed that several of the required standards were not met.
Copies of the studies from Detroit, Mich., and Prince Georges County, Maryland, are available at www.comcastwatch.com. For copies of the Contra Costa County, California, and Brookline, Mass., reports, contact CWA at 202-434-1182.
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