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The Bulletin's Frontrunner…04/17/2002
Bloomberg News reports, "Sen. John McCain ordered a congressional inquiry into why prices charged by cable television companies such as AT&T Corp. and Comcast Corp. climbed 7.5 percent in one year, faster than the rate of inflation. McCain asked the General Accounting Office, Congress' investigative arm, to study the increase."
Bloomberg reports, "Arizona's dominant cable company, Cox Communications, took exception to McCain's action, saying it had not raised rates since last April. . 'Consumers have a right to know why cable rates continue to climb faster than the rate of inflation,' McCain, the top Republican on the Senate Commerce Committee, said in a statement. 'The time has come for an independent review of the cable industry's claims.'"