Can someone please tell me why the New York City Council has anything to say on this matter of Time Warner vs. CBS? The City Council’s grandstanding is utterly absurd and a colossal waste of time (not theirs – their time is certainly not worth much -, but the time of the CEOs who have been brought in).
“You two guys are sitting here fighting with each other about your profit margins,” said Brooklyn Councilman Lewis Fidler.
In her opening remarks, New York City Council Speaker and mayoral candidate Christine Quinn said, “it is time that CBS and Time Warner Cable both recognize that they have responsibilities to the public — the public trust — and New Yorkers deserve better than to be caught in the middle of their corporate dispute.”
No, in fact the CEOs of Time Warner and CBS have no responsibility to the public. They have a responsibility only to their share holders (their “profit margins”), and I’m sure their share holders each care very much about the result of the content cost negotiations.
It’s exactly this kind of meddling in the affairs of business that leads to the importance of lobbyists and generate cronyism.