Adelphia

Thinking of a unassailable investment, tail end Rigas obtaind a pardonable cable ac friendship in Pennsylvania, in 1952. As the federation started to grow rear end and his brother, Gus, use the name Adelphia Communications Corporation. Adelphia is a Greek word that nitty-gritty brother. John fatalityed to assuage Adelphia a family business, and as John was the head of Adelphia, his sons were Adelphia’s representation team. John Rigas and his sons, Tim, Michael, and James, as nearly as John’s son-in-law Peter Venetis, make up the majority of the plug-in of Directors as salutary as the majority of the take stock. Although, the lodge in common traded, the Board of Directors treated the company as their own, using Adelphia’s bills as their own. Adelphia made a lot of money, and the Rigas’ serve a lot of that money on personal items same(p) offstage spurts, winding of golf courses, on top of that they excessively bought a dominant share of the “ overawe Sabres,” of the National hockey League. The construction of the golf course neer took place, however, the plan was to make by a PGA style golf course, which would end up be the shareholders over $15 billion dollars. The golf course was to be built on John Rigas’ property, and Rigas commented, “I said Id consecrate the land” (Leslie Cauley, USA TODAY).

The family bought cloistered outflows with Adelphia’s money and give them as if the jets were their own. Even using a private jet for sending a Christmas corner to the daughter of John Rigas. The Rigas’ purchase behavior was erratic, spending more of Adelphia’s money from apiece one year. The Rigas’ took so a lot money that Tim Rigas [son] had to limit the nub 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 pass to settle Adelphia back; they tied(p) 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 honest essay, place it on our website: Orderessay

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