First, a synopsis of the Adelphia scandal will be presented. Next, a brief overview of ethics and how they apply to maintaining good business and public trust will be discussed. It ranked as the fifth most prestigious cable companies in United States. John Rigas is the founder of the company.
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First, a synopsis of the Adelphia scandal will be presented. Next, a brief overview of ethics and how they apply to maintaining good business and public trust will be discussed. It ranked as the fifth most prestigious cable companies in United States. John Rigas is the founder of the company. The analysis of data takes two ethical frameworks.
Individuals or groups of people are responsible for making decisions in an organization shaw, In , Adelphia Communications was among the most publicized ethical misconduct disasters. Instantly when that happens no matter what the outcome of the trial is, that organization just lost some credibility. Unfortunately, many Americans had to face this issue… John Riga and two other business partners developed Adelphia Communication Corporation in in Coudersport, PA.
Given the corporate ethical breaches in recent times, assess whether or not you believe that the current business and regulatory environment is more conducive to ethical behavior. A key provision of the Act was to create a stronger ethical climate in the auditing profession, a consequence of the apparent role that auditors played in some of the scandals. Everyone that deals with any organization expects the upmost ethically behavior on all levels. Background As a publicly-traded corporation, Adelphia, Inc.
The allegations ranged from faulty revenue reporting and falsifying financial records, to the shredding and destruction of financial documents Patsuris, Most notably, are the cases involving Enron and Arthur Andersen.
The allegations of the Enron scandal went public in October They included, hiding debt and boosting profits to the tune of more than one billion.
Adelphia Communications Corporation
A summary of one of the biggest scandals in US history. Steve Tobak Aug. By comparison, other corporate misdeeds seem like small potatoes. Corporate criminals everywhere are crying out, "What does it take to get a little attention around here? John Rigas founded the company and served as CEO and chairman. All four were board members, along with John?
The end of the Adelphia saga
After 20 years in the business, Rigas incorporated the company under the name "Adelphia" which in the Greek language means "brothers". In the upcoming years, the Rigas family combined various cable properties under the company name and made it public. In , the company established Adelphia Media Services which would allow commercial opportunities on local, regional and national levels. Two years after, in , the company created Adelphia Business Solutions subsidiary which provided different types of products to businesses such as, high-speed Internet, phone services, and voice messaging. In , Adelphia reached 2 million users in subscription. Legally, the Rigas entities should have paid the debt, however, if they were not able to, the company would be held accountable.
Adelphia founder gets 15-year term; son gets 20
Business Ethics: Adelphia Scandal