If you are done with rubbernecking the Stephon-Isiah train wreck, here's something that might be far more interesting to read: Jim Bernstein's story today in the Newsday Business section, which blared the headline: "Cablevision shares rated 'sell'."

Hmmm.....

Trouble ahead, trouble behind;
And you know that notion
just crossed my mind

Bernstein wrote that Cablevision Systems Corp. shares "continued to tumble Tuesday after an analyst's downgrade of the stock, saying the Bethpage-based provider of cable television services seems be taking a worrisome course by looking to acquire live entertainment venues through leveraging its free cash flow.

Cablevision shares fell 78 cents or 3.1 percent to close at $24.73. That came on top of a Monday drop of $1.28, or 4.8 percent. (Note: as of 1:30 p.m. Wednesday, it was down another 41 cents to $24.32).

Richard Greenfield, who follows the cable television industry for Pali Research, downgraded Cablevision to 'sell,' from 'buy.'"

Greenfield told Bernstein that the concerns about Cablevision's fourth-quarter outlook were based on the fact that "meaningful portions of Cablevision's free cash flow over the next two years appears to be headed for investments in the live entertainment business."

Greenfield also no longer believes the Dolans are looking to sell Cablevision, which they attempted to do in recent years. They also tried to go private, which was also rebuffed by shareholders.

Cablevision, as you know, owns Madison Square Garden and the Knicks and Rangers, as well as Radio City Music Hall and the Beacon Theatre. Last year it also purchased the famous Chicago Theater.

I wish Dolan nothing but the worst.

Trouble ahead, trouble behind;
And you know that notion
just crossed my mind

Garcia!

I wish Dolan nothing but the worst.

Peter Vesey has speculated before that the Dolans are trying to devalue their equity. If the stock has been downgraded to "sell," it means some people will likely sell. This could drive the price of the stock down enough for them to repurchase theses shares at a price they are willing to pay in efforts to take the company private.

I'm not sure I buy it, but I wouldn't put it past that family.

The thing I don't like about this article is that they're trying to buy live entertainment businesses. That means that they are so high on the Knicks, Rangers, Radio City, etc. they might be around for a while.

What I'm hoping for is some shareholder activism or some director influence to get these inept or deceitful employees ousted.

Posted by 4949:

Or maybe even an attempt to make it more attractive, to sell?

They wouldn't seek to grow the company in a way that would devalue their stock. Analysts recommending investors sell Cablevision would not increases the amount of investors looking to buy the company.

And if they go private, what would that mean?

Posted by 4949:

And if they go private, what would that mean?

They would not have to answer to the SEC.

Public -- or Private? Exploring the Possibilities

    * Avoid new regulatory burdens. The passage of the Sarbanes-Oxley Act has put 
public companies under intense scrutiny, and the cost of being a public company is 
expected to rise due to the Act's provisions and the time executives must spend 
ensuring compliance.
    * Reduce public pressures to maintain growth. Public companies that need time to 
restructure out of the glare of the public eye may consider going private to regain 
confidentiality.
    * Avoid court time and fees. Without public shareholders, companies may reduce 
their litigation risk; given today's fault-finding environment, companies that go 
from public to private could avoid unnecessary time and expense spent on litigation.
    * Concentrate control and make a profit. Going private results in a control shift
 -- away from public shareholders -- and allows the new owners to make decisions without 
public shareholder input. Also, if the markets are not recognizing the value of the company, 
the owners could realize a windfall by paying a reduced price for a company that is worth more.
    * Explore possible tax benefits. Companies going private may have the opportunity to 
change their corporate structure to an "S corporation" status, which provides tax benefits not 
available to public companies, such as the elimination of multiple taxation and an increase in a 
shareholder's stock basis.