Adelphia

Thinking of a ripe(p) investment, sewer Rigas secured a forgivable cable ac participation in Pennsylvania, in 1952. As the troupe started to grow behind and his brother, Gus, employ the name Adelphia Communications Corporation. Adelphia is a Greek word that sum brother. John insufficiencyed to suit Adelphia a family business, and as John was the head of Adelphia, his sons were Adelphia’s style team. John Rigas and his sons, Tim, Michael, and James, as intumesce as John’s son-in-law Peter Venetis, do up the majority of the plug-in of Directors as surface as the majority of the right to vote stock. Although, the smart set in reality traded, the Board of Directors treated the company as their own, using Adelphia’s money as their own. Adelphia made a lot of money, and the Rigas’ attend to a lot of that money on personal items same(p) mysterious spurts, look of golf game courses, on top of that they excessively bought a dominant share of the “ cow Sabres,” of the National hockey League. The construction of the golf course never took place, however, the plan was to make appear a PGA style golf course, which would end up be the shareholders over $15 jillion dollars. The golf course was to be built on John Rigas’ property, and Rigas commented, “I said Id reach the land” (Leslie Cauley, USA TODAY).

The family bought individual(a) springs with Adelphia’s money and utilize them as if the jets were their own. Even using a private jet for sending a Christmas channelise to the daughter of John Rigas. The Rigas’ purchase behavior was erratic, spending more than of Adelphia’s money from each one year. The Rigas’ took so some(prenominal) money that Tim Rigas [son] had to limit the list that, his generate’s, could take to $1 million per month (AICPA 2005). The Rigas’ fagged so much of Adelphia’s money and said that they were passing play to settle Adelphia back; they counterbalance manipulated the books to show that they were paying the company back. The Board of Directors at Adelphia each...If you want to get a mount essay, place it on our website: Ordercustompaper.com

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