Cheap, dishonest, gruff, and prone to making meandering patriotic speeches for no good reason, Caballero liked to affectionately describe his employees as "the SCTV family," although he routinely treated them with disdain.
Though Caballero's personal past was left deliberately shady, it was mentioned several times that he was an illegal alien (from South America) who had managed to buy his way into the United States "when he showed up in Panama with suitcases full of Nazi gold."
Guy at one point had an affair with SCTV star Lola Heatherton, but broke it off, later explaining (using network ratings terms) "it was doing poorly in the overnights".
As the owner and president of SCTV, Guy frequently appeared on the network to introduce shows, to make announcements, or to apologize for previous programming blunders.
It is rumored that Flaherty based the mannerisms and appearance of the Cabellero character on Laurence Olivier's portrayal of Loren Hardman in the movie The Betsy, released earlier in 1978.