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RockaFowler

(7,429 posts)
Mon Jun 30, 2014, 02:25 PM Jun 2014

Does anyone remember Adelphia Cable??

Well I worked for those religious nuts in 2000-2002 after Comcast and Adelphia did a swap of properties. Adelphia had a policy that they would not pay for ANY birth control pills unless you had a letter from your doctor saying they were medically necessary. So, I had to get a letter from my doctor because I had a personal issue. I have Fibroids. The only thing that will stop me from bleeding is a birth control pill. See it regulates your period. It's good for that kind of thing.

So these "religious" guys took it upon themselves to remove birth control (only the pill by the way) from their insurance coverage. These same guys were indicted and charged with securities violations.

The founders of Adelphia were charged with securities violations. Five officers were indicted and two (John Rigas and Timothy Rigas) were found guilty. Rigas founded Adelphia with a $300 license in 1952, took the company public in 1986 and built it by acquiring other systems in the 1990s. The company collapsed into bankruptcy in 2002 after it disclosed $2.3 billion in off-balance-sheet debt.

Federal prosecutors proved that the Rigases used complicated cash-management systems to spread money around to various family-owned entities and as a cover for stealing $100 million for themselves. The New York Times noted that this differed considerably from other accounting scandals like Enron and Worldcom, saying "For the one trait that distinguishes the Rigases from virtually every other culprit on Wall Street is that they didn't sell their stock. The evidence suggests less that they intended to defraud than that they intended to hide inconvenient facts until they could be righted. This is also, of course, against the law; it's just a more tragic crime than ordinary looting."
http://en.wikipedia.org/wiki/Adelphia_Communications_Corporation

So they can claim they were religious at the same time stealing money from their company. They took vacation time from us while we worked there because the company had fallen on hard times. These so-called religious people are all full of crap. They stole something a lot worse than giving coverage for a birth control pill.
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Does anyone remember Adelphia Cable?? (Original Post) RockaFowler Jun 2014 OP
I remember these guys jollyreaper2112 Jul 2014 #1
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