Adelphia's John Rigas and son report to prison in N.C.

[salin]

Source: USA TODAY

Adelphia's John Rigas and son report to prison in N.C.

Updated 1h 34m ago

RALEIGH, N.C. (AP) — Convicted in one of the nation's largest corporate fraud cases, former Adelphia Communications executives John and Timothy Rigas reported Monday to a federal prison in North Carolina.

Adelphia founder John Rigas and his son Tim, the company's former chief financial officer, were convicted in 2004 on multiple charges of securities fraud, conspiracy to commit bank fraud and bank fraud, but had remained free while their appeals navigated the courts system.

snip

Prosecutors say the Rigases made Adelphia's finances appear more robust when they were in fact dangerously overextended by concealing nearly $2.3 billion of the company's debt.





Read more: http://www.usatoday.com/money/media/2007-08-13-rigas-prison-nc_N.htm?csp=34

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This blast from the past story from the second wave of corporate implosions in 2002 - now at the beginning of new corporate implosions ... Good thing we have an MBA president... :sarcasm:

[liberal N proud]

1. As crooked as the execs for Adelphia were, they are better than those with Time Warner

We were forced to Time Warner (only cable provider in area) when Adelphia was broken up. It has been a nightmare, lost payments, shitty reception, internet service down daily and then the email mailbox limit cut to almost nothing.
Then whey you contact customer service or their help desk, they deny any problems at all.
If they locked these guys up they need to go after the Time Warner execs next.

[mikelgb]

2. yep

it has been shit

I got rid of them

they start assessing weird fees and it was too expensive

so I took a look into that AT&T $10/mo deal and got that...

[BootinUp]

5. Adelphia was nearly as bad

I used Adelphia broadband from Sept 2001 till sometime in '04 or '05. I believe there are technical reasons why broadband cable is such a challenge to maintain (actual equipment problems). I am now a DSL fan and user. I am not standing up for Time Warner, their customer service blows, I had them for cable tv and phone before Adelphia for about 2 years. It was maddening the way you would get passed around the phone system from dept to dept. I vowed never to use 'em again if I could help it.

[liberal N proud]

7. Never had a problem with Adelphia

Time Warner problems started day 1
We use Vonage and I noticed a drop in quality of the reception on our phone the day we changed over.
We had to visit their customer service office, when you have 1" thick bullet proof glass between you and the person on the other side of the counter, you have a customer service problem.
Adelphia office never had that.

[melody]

8. Amen, am there, done all that

We're in a Time Warner-that-ate-Adelphia area, too.

[RockaFowler]

3. As a former Adelphia Employee, let me say

What took them so long?? They were convicted in 2004 for God's sake. There was a crooked PBC commissioner who was convicted this past year and turned himself in today to the feds.
Oh yeah and when I left there I switched to DirecTV. Much better reception and they never lose a payment . . . LOL

[cornmak]

4. I feel bad for John Rigas...

Speaking as somebody that knows John Rigas, the person, as an old family friend, I really truly feel bad for him. He was and is not not the "cut throat" corporate demon that he was made out to be. The Bush administration needed somebody to hang from a flag pole, somebody that was not close to Bush and co. and he was it. They staged the whole arrest like a movie for the public consumption.

John was and still is the type of person who tried to help people and his community, never looking for something in return, and that goes way way back to when he wasn't wealthy. I can't even begin to tell you the number of people that I know who he has helped out with schooling, housing, doctor bills, and etc without being asked or making a big deal of it.

I cannot say the same for his sons, who really ran most of the Adelphia operations since mid 1990s.

[Doctor_J]

6. What's wrong with Guantanamo?

This one probably comes with private squash courts.

[CRF450]

9. I hated TWC too when Adelphia went down

Its the only cable internet provider we have here, internet went down almost everyday untill earlier this year when it hardly ever happened anymore. I dont think we have DSL available, and we sure as hell aint going with satalite internet since I play games alot. I mean its fast, but theirs a big delay in the signal which makes it impossible to play a good fast paced FPS (first person shooter) game, and its more expensive then what you can get out of cable.