Wending Creek Case Study

For instance, the funds owed the company by the Rigas family went undisclosed in the statements, because the management at Adelphia deemed such disclosure as being “unnecessary” (Barlaup, Hanne, & Stuart, 2009). Given that Adelphia was a publicly traded company, the purposeful non-disclosure caused potential investors to rely on financial records that were grossly misleading. The inevitable result was the investors continued to inject money into a company that had all the appearances of profitability and sustained growth, but that was, in reality, rapidly becoming insolvent. Moreover, lending institutions also relied on the “independently-audited” financial statements, and they were more than eager to loan the company money, given Adelphia’s presumed state of financial “profitability.”

On October 8th, 2015 our 8-Orange team took a field trip to the Conodoguinet Creek to test the water quality. The Conodoguinet Creek was tested about 2 different times. It was tested about 2 times to take a test to see if the water was polluted or unpolluted. The results will help you understand the conflict of the Conodoguinet Creek.The water came up to about our knees. This trip was different but very informational.

The issue is the idea of the second airport being constructed at Badgerys’s Creek. This affects the environment of Badgerys’s Creek greatly as it can destroy such a beautiful site.

Relocating to the Charleston, SC area? Have you considered Goose Creek? Goose Creek has a hometown feel and you 'll quickly get to know your neighbors whether you choose an area with waterfront access or one of the recently upgraded units near public services and in proximity to local parks and recreational venues. You 'll find a family-oriented community where 76% of the population is married and more than a third of the couples have children. The median-income is more than $48,000 and 29% of the residents have advanced educational degrees at the Bachelor 's level or above. It 's a thriving community in Berkeley County, where both the personal crime rate and the property crime rate are lower than South Carolina 's state level, 26% and

1. We refer to your request for advice on Coal Seam Gas operations to advise you on the matter of potential CSG operations on or near your property and what these may entail.

Over the past three months Winona Lake has experienced some roadblocks with completion of the Greenway Project. Craig Allebach the town coordinator is responsible for procuring grants, and managing everything on behalf of the town.

After researching all the chemicals that were given, I have concluded that the company, Sarah’s House of Wax, is responsible for the “burning water” in Big Darby Creek. They use the chemical petroleum ether, which is causing the many unwanted flames in the water. Petroleum ether has many physical and chemical properties that led me to believe it was the contender causing the problem. After watching the video of the burning water, petroleum ether’s slightly flammability, white color, insolubility in water, and extremely low flash point has caused me to believe it is the chemical to blame.

WAVERLY (WENY) - Tuesday afternoon New York Lieutenant Governor Kathy Hochul made a trip to the Southern Tier to visit places she says are on the rebound. She walked around downtown Waverly, with mayor Dan Learly to learn what problems the village faces.

For nearly 3 years, the Johnson Lake Development lease committee has been working diligently to come to an agreement with Central Nebraska Public Power (CNPPID) on a simplified alternate lease that is fair to both parties. Last February, the Central board voted to approve a lease fee structure for the next 30 years, and on July 5th, they approved the terms of the lease.

The Wonston brook detaches from the river Lydder in the Dorset Stour catchment (1.240 Km2). This catchment is designed as a CSF that helps to manage the area to reach the WFD standard. The area surrounding Wonston brook is mainly rural, with a clay soil and a semi-natural habitat along the river. The land is mainly used for farming, that result the main source of pollution (Environment Agency,

John Rigas is the founder of Adelphia Communications and his son Timothy was the company’s former CFO. On June 20th, 2005 Timothy and John Rigas was sentenced to prison a year after being convicted for their role in a multibillion-dollar fraud that led to the collapse of the nation’s fifth-largest cable company for their New York convictions. In addition, a federal judge has refused to dismiss the charges of tax evasion against both Rigas in the state of Pennsylvania. John and Tim Rigas, now serving 12- and 17-year sentences, respectively, at Allenwood, declined to be interviewed for this story. Neither man admits wrongdoing. Their company, Adelphia collapsed into bankruptcy in 2002.

Records falsification was not the only illegal activity the Rigas family was wrapped up in. The family used company funds, unbeknownst to their investors, to finance personal endevours and interests. Examples include using corporate money to build a $12.8 million golf course on the Rigas property, using the company plane for personal vacation trips including a safari to Africa, and funding for two Manhattan apartments for his family (Markon, 2014). Not only this, but John Rigas purportedly used the company jet to fly a Christmas tree two times to his daughter in New York (Barlaup, 2009)! All of these incidents are just brief excerpts of the fraud and misuse of company funds that John Rigas and his family committed without any intention of ever paying back into the company. These actions, namely lying and stealing, prove to be the heart of the two moral issues that will be further analyzed.

John Rigas founded Adelphia Communications Corporation (“ACC”) in 1952 for $300. The company was fittingly named Adelphia, Greek for brother, as it employed generations of Rigas family. Skip ahead twenty years; Adelphia officially became incorporated. Roughly ten years later, John Rigas bought out his brother Gus’ stake, and his three sons became employees of Adelphia. His son-in-law was also the head of the board of directors. This positioned the Rigas family into all of the senior executive positions at ACC. After continued corporate growth, ACC made its initial public offering in 1986, yet the Rigas family held nearly all of the control over every aspect of operations. (International Directory of Company Histories, 2003)

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

Similarly to how the Rigas family hid their transactions in the cash management system, they also manipulated company metrics and numbers in an effort to hide the actual current state of the company to the shareholders. Barlaup states that according to James Brown, former VP of finance at Adelphia, “it became a part of the corporate culture of Adelphia to conceal information that might be disadvantageous for the company” (2009). The purpose of doing all of this manipulation was to hide the fact that the company was in an enormous amount of debt. They hid the debt from the shareholders as a cause and effect result that would undoubtedly happen. If the shareholders knew that the company was in debt then the company’s numbers in the market would start to slide, thus making getting out of debt even harder. The ethical problem for the Rigas family at that point had become: Do we hide the debt in hopes of making more money in the market, or are we honest about the state of the company and risk a big financial loss as a result?