The Adelphia Scandal
In 1952, John Rigas purchased his own cable company. By the late 1990's, he had turned it into the sixth largest cable company in the United States with 5.6 million customers. The business was always run as a family style business which led to fraudulent acts among family members and upper level executives. The family has been accused of stealing $3.1 billion from Adelphia and is now facing criminal charges. Adelphia was forced to file chapter 11 bankruptcy and as of April 24, 2004, the new board of directors made the decision to break up the company and sell it. The Adelphia scandal is morally wrong because the Rigas family coerced and exploited employees, harmed all stakeholders as well as stockholders, and had a negative impact on the cable industry as a whole.
The word exploit means "to use unfairly for one's own advantage" (Mish 267). The Rigas family exploited and coerced employees by stealing $3.1 billion from the Adelphia Corporation for their......

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Title: The Adelphia Scandal
Approximate Word Count: 1173
Approximate Pages: 5 (250 words per double-spaced page)

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