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Facts check: Trump's Charter communication jobs boasted of
However, Charter's 20,000 job addition plan has been under way for almost two years - the outcome of a fusion with Time Warner Cable and Bright House Networks. That $25 billion in investment was also part of a deal the firm made before the elections, an industrial analyst said.
with Charter CEO Tom Rutledge and Texas Gov. Greg Abbott. Trump, March 24: "Today I'm pleased to announce that Charter Communications has just pledged to invest $25 billion - with a $25 billion dollar credit - you're sure that's right, aren't you?
Using a C, right - 25 billion dollars here in the United States, and has further pledged to hire 20,000 U.S. laborers in the next four years. "But, as we have said a few time before, Trump has received recognition for creating jobs that were actually already in the works.
This is the case with charter. It had promised to create 20,000 jobs for nearly two years, as part of its commitment to obtain $55 billion government agreement for its fusion with Time Warner Cable and $10.4 billion acquisition of Bright House Networks. The Hollywood Reporters cited Rutledge in June 2015 as saying that the firm would shift call centre jobs to the US as part of the wire company's commitment to improving customer experience.
Rutledge said that the enterprise needed a total of 20,000 new people. Commitment of 20,000 jobs was reiterated as the firm went through the federally and state regulatory processes to approve the proposed transaction. For example, in January 2016 Charter published a news statement in which one weeks after the New York Government's New York PS Commission cleared the acquisition of Time Warner Cable and Bright House Networks by the New York PS Commission, Charter announced the official advantages of a combination - a "significant step", as Rutledge put it, towards definitive clearance of the combination.
The press communiqué said the firm would generate 20,000 jobs - "including thousand of jobs returned to the United States" - if the deal was finally approved. "Understanding the importance of proving why deals are in the interest of the general interest, why we are continuing to talk to regulatory authorities, interest groups and the general public about the customer benefit of the new Charter - which includes high-speed unbounded access to bandwidth, enhanced deployment of bandwidth, a strong support for the open web, innovation in delivery of videos and 20,000 new jobs, among them 1000 jobs to be returned to the United States," the company's press release states.
In May 2016, Charter finalized the acquisition of Time Warner Cable and Bright House Networks after the Department of Justice and the Federal Communications Commission cleared the proposed combination. On a June 23, 2016, Senate Supervisory Consultative Panel hearings, Kathleen "Kip" Mayo, the company's chief Executive VP of Client Services, said senior officials that the corporation would shift jobs from foreign call centres to the U.S. "As part of our deal with Time Warner Cable, Charter expected to employ 20,000 U.S. blue-collar employees, many of whom will fill client services jobs that are currently relocated to call centres in other countries," she said.
Nevertheless, Trump accepted the recognition for the 20,000 jobs. The McAllen, Texas, jobs were also in the works before Trump won the president. Rutledge, Charter's Chief Executive Officer, met with analyst firms on August 9, 2016 to discuss the relocation of call centre jobs from abroad to the U.S. in a second quarterly call for profits.
However, the Hartford Courant said the Connecticut-based firm is likely to make such a large financial commitment over the next few years. "Marktanalysten anticipated that the enterprise until 2020 would invest about 30 billion dollars for investments, such as the purchase of junction boxes and maintenance of the network," the newspaper said.
When we asked Craig Moffett - a telecoms research firm for MoffettNathanson who took part in Charter's Earnings Call on August 9, 2016 - if he saw anything new in the White House's 20,000 job and 25 billion dollar investments announcements, we asked him if he was interested.