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Like Father, Like Son
Adelphia CFO steps down
by hescominsoon$ Thursday 16-May-2002 tags: business · cable
Following in the footsteps of his father, chief financial officer Timothy J. Rigas resigned his position with Adelphia communications. This leaves newly implanted interim CEO Erland E. Kailbourne to deal with the increasing scrutiny about the Rigas family's financial dealings, a halted stock, and a growing investigation by the Security and Exchange commission. Both father and son will remain on the Adelphia board, of which the Rigas family still has voting control.

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bgraham

join:2001-03-15
Smithtown, NY
Reviews:
·Verizon VoiceWing
·Verizon FiOS
·VOIPo

Well they took their millions and millions

They all got rich and left the mess to other people.

At the enquiry by the SEC, the government and by who ever else is there, they will have either forgotten everthing or deny it, or say they did nothing illegal and did not know about it if they did.

RR Conductor
Happy 40th Amtrak
Premium
join:2002-04-02
Redwood Valley, CA
kudos:1

Re: Well they took their millions and millions

Nothing new there
daledude

join:2000-10-14
Boca Raton, FL
From underground thugs to high class shanks. They never cared about the company. Not only are they rich off this slaughter so are their scummy back street friends.

Hey Rigas family - .|.
--
Adelphia- rated #1 in customer dis-satisfaction.

bhan261

join:2001-02-12
New York, NY

...the Rigas family still has voting control.

So who cares if they resigned their jobs...they still control the company. This company deserves to die. Hopefully it will.
CanAm77

join:2002-04-02
Scranton, PA

Re: ...the Rigas family still has voting control.

I wish the whole comany would just shut down and let Comcast or something take over...i hate Powerlink...and there cable tv lineup sucks too...rate increase in march...and another one coming...

bhan261

join:2001-02-12
New York, NY

Re: ...the Rigas family still has voting control.

My mother-in-law lives in West Pittston and has their TV service. Good god they are awful! Really lousy customer service and they'll lie, knowing you know it's a lie, but insist it's the truth! As I said...they deserve to die...but I really hope it isn't Comcast that buys their Northeast PA systems. That's only marginally better...if that!

michaelp95
Premium
join:2001-08-23
Tucson, AZ
No it wont die, they'll get bought out by Comcast, Cox etc and that family will get richer.

IPPlanMan
Holy Cable Modem Batman

join:2000-09-20
Washington, DC
kudos:1

The vultures are overhead now....

Just leave Los Angeles.... Just leave.... You had no business being here.

Second tier can't hack it out here. Period....end of story.
--
A proud card carrying member of the Right Wing Conspiracy

oOOOo

join:2001-12-10

Adelphia debt less than junk

Wednesday, both Moody's Investors Service and Standard and Poor's Corp. downgraded Adelphia's credit rating, already below "junk" status. Moody's in a statement said, "The prospect of a potential bankruptcy filing is more likely and may ultimately be unavoidable."

»online.wsj.com/article/0,,SB1021···Dbody%29

vice8686

join:2000-10-13
Lancaster, CA
Reviews:
·RoadRunner Cable

SAD!!!

Man, I'm getting PO'd now. Adelphia moved here in Lancaster October of last year. They're promising PowerLink service soon, and now they may go out of business? Seems as though I'll never get broadband where I live. Oh well, here comes another 2-3 years wait.

IPPlanMan
Holy Cable Modem Batman

join:2000-09-20
Washington, DC
kudos:1

Re: SAD!!!

No different here in 90049.... check out my other posts to see this Biblical Saga....
--
A proud card carrying member of the Right Wing Conspiracy
Jim Badger

join:2002-01-25
Beaumont, CA

Same here in Anaheim. I'm so pissed right now, especially after reading this...
said by emhinkes:
I asked the head guy, "Heard anything about powerlink?" He says, "Maybe in August, Maybe in September, but with all this recent 'news'... maybe not"....
"Give me somethin' to break..." -Limp Bizkit

--
Cablemodemless in Anaheim

[text was edited by author 2002-05-16 17:28:59]

IPPlanMan
Holy Cable Modem Batman

join:2000-09-20
Washington, DC
kudos:1

Feel the rage!!!!

This is so disgraceful....

I mean... This is beyond pathetic.

We might as well be back in 1997 with our 56K....

Very few things haven't changed since then... This is one of them....

Second tier doesn't belong here..... Leave!
--
A proud card carrying member of the Right Wing Conspiracy

dwillia4

@qnet.com

Re: SAD!!!

I live in Quartz Hill and I'm too far from CO for DSL. Like everyone else in the Antelope Valley, I've been waiting for several years for Jones to offer broadband. Then Adelphia bought them out and the "wait clock" was reset back to zero. Looks like another reset is coming..

vice8686

join:2000-10-13
Lancaster, CA
Reviews:
·RoadRunner Cable

Re: SAD!!!

I agree. From what I understand, Acton is served by Adelphia, and because Acton's cable lines are soo old, Adelphia decided to temporarily stop deployment of PowerLink service to Palmdale/Lancaster/Quartz Hill, so they can concentrate on upgrading Acton. The wait is, supposedly, June '03:(
[text was edited by author 2002-05-16 21:57:25]

IPPlanMan
Holy Cable Modem Batman

join:2000-09-20
Washington, DC
kudos:1
We're too far for DSL too... In West Los Angeles of All places.... sigh....

Verizon has refused for years to put in a CEV to reach us. Combine that with Adelphia's inaction, and you have a recipe for 56k..... For the last five years.....
--
A proud card carrying member of the Right Wing Conspiracy

vice8686

join:2000-10-13
Lancaster, CA
Reviews:
·RoadRunner Cable

Re: SAD!!!

I feel your pain emhinkes. I just do not understand this. It's the year 2002, and technology still refuses to embrace the rest of us:( I wanna play too??? I currently have IDSL at $65/month, which is still better than 56K, but I'd like to have standard ADSL at $50/month even better. Hopefully time is on our side.

IPPlanMan
Holy Cable Modem Batman

join:2000-09-20
Washington, DC
kudos:1

Re: SAD!!!

This is exactly my point....

We might as well be back in 1997!!!!

VERIZON should be ashamed!

ADELPHIA should be ashamed!
--
A proud card carrying member of the Right Wing Conspiracy

oOOOo

join:2001-12-10

Troubles spread to golf courses, timber rights...

Now, Adelphia's accounting troubles may be spreading beyond those arrangements. Adelphia's auditors, Deloitte & Touche LLP, have discovered additional accounting irregularities relating to a variety of corporate transactions with the Rigas family, according to people familiar with the situation.

These people said Deloitte is examining whether Adelphia funded a golf course built by the Rigas family and whether the company gave more than $1 million in loans to senior corporate officers. In addition, auditors are examining an agreement in which Adelphia may have paid millions of dollars for timber rights to land owned by the Rigases.

»online.wsj.com/article/0,,SB1021···Dbody%29

IPPlanMan
Holy Cable Modem Batman

join:2000-09-20
Washington, DC
kudos:1

Re: Troubles spread to golf courses, timber rights...

Sound like your typical hooligans to me....

What else is new.... And to have them think they would get away with it?

Unreal....
--
A proud card carrying member of the Right Wing Conspiracy

RR Conductor
Happy 40th Amtrak
Premium
join:2002-04-02
Redwood Valley, CA
kudos:1

Re: Troubles spread to golf courses, timber rights...

It's sad they can't provide you with better service, for me, it is surprising. Up here in Mendocino County, I give their cable modem service, digital cable service, and Customer Service all A's. I am not trying to rub anybodies noses in it, I just don't understand how they can be so good up here and so bad down there, weird. I guess it's like anything, it has good areas, and bad areas.

IPPlanMan
Holy Cable Modem Batman

join:2000-09-20
Washington, DC
kudos:1

Re: Troubles spread to golf courses, timber rights...

It's because there's no accountability out here....

Whoever's in charge manages to lie to:

The city council
The Los Angeles Times
The Subscribers

Now that's lying!!!!
--
A proud card carrying member of the Right Wing Conspiracy

JYoung
G L 2814

join:2000-06-13
Sherman Oaks, CA
Probably because they haven't destroyed the existing infrastructure of the previous owners yet.
Your previous cable company was probably very good when Adelphia purchased it.
My area was owned by TCI before it was rolled into the Century deal and sold to Adelphia. Since that time, Customer Service and Cable TV service (not that high with TCI in the first place) has nose dived.
They can't seem to do TV service very well, why would I want them for broadband?
--
If you're wondering how he eats and breathes and other science facts, then repeat to yourself "it's just a show, I should really just relax"

RR Conductor
Happy 40th Amtrak
Premium
join:2002-04-02
Redwood Valley, CA
kudos:1

Re: Troubles spread to golf courses, timber rights...

No, they have come in and turned an 1980's era cable tv network into a 21st century system. It used to be Century here too.
[text was edited by author 2002-05-16 21:00:56]

IPPlanMan
Holy Cable Modem Batman

join:2000-09-20
Washington, DC
kudos:1

Re: Troubles spread to golf courses, timber rights

Century's infrastructure was awful....

Unreal as it seems, Adelphia is a step up....

But it's the lack of broadband that I have a beef about.

Adelphia.... Your link for some things... not everything....
--
A proud card carrying member of the Right Wing Conspiracy

cpr2k
This Won'T Hurt..
Premium
join:2002-02-02
San Marcos, CA
Accounting irregularities are one thing, but this is something else altogether.

*Sigh*
--
No good deed goes unpunished..
Cyber2lz

join:2001-11-15
Odessa, FL

Can you say crooks ????

Yee haw, It's great to see white collar criminals are alive and well and living in Coudersport, PA.
--
If you're not livin' on the edge, you're takin' up too much space !

johrho
Oh Yeah, I'M Gonna Do Somethin'.

join:2002-03-19
Mountain Home, ID

Hey, I think I having deja vu.

Does anything about this scenario seem vaguely familiar at all? Corruption, massive debt, cooked books, a failing company and the filthy rich people who caused it -- are still getting rich? Hmmm... Seems like this is the 'new business model' of the 00's. I'll wonder if you could rustle up some venture capital with a scheme like that? I'd guess yes, as long as the investors got a return who cares how many other people get screwed in the process.

johrho
--
I don't "think" I'm always right. I am.
jimemac4

join:2001-03-31
Browns Mills, NJ

This is just the begining of the end.....

for several mismanaged companies like Adelphia. Mark my words, you are going to see a half a dozen or so more of these types of scandals surfacing before years end. And much like Adelphia, the top brass in most of these organizations will just walk away and leave some poor interim sap holding the bag with an impossible task in front of them. While the responsible parties enjoy early retirement in their mansions at the expense of all the investors.

What ever happened to accountability for ones actions? They should at least have a little dignity....these guys have no dignity whatsoever. I can just hear their advisors telling them; get out now while there's still time, before you lose everything. And here's you're new strategy, just lay low for awhile, until the next big scandal surfaces and everyone will forget about you. That's the new American way in business. Sad, very sad.

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