Adelphia Communications Corporation Scandal
Adelphia Communications Corporation Scandal
Unethical Business Practices Research Assignment
Abstract Historically, ethical values, relating to professional business practice, continually raises controversy for business owners/founders, shareholders and consumers. Ethical standards perpetually change because personal and societal values evolve, and adapt accordingly to modern day lifestyle. It is as essential to adhere to your profession’s ethics, as it is to denounce questionable conduct within your work place. Some unethical practices are difficult to identify because companies can justifiably defend its actions. For instance, media outlets recently publicized that in an effort to buy Time Warner Cable, Comcast paid millions of dollars to the House and Senate Judiciary Committees assigned to oversee the hearings associated with the deal. Some people question the effect these sizable “donations” have on the lawmakers’ ability to procure a fair transaction. Comcast defended its actions in a statement, “It is important for our customers, our employees and our shareholders that we participate in the political process. The majority of our PAC contributions are to the senators and members who represent our employees and customers.” (2014, March 10). Seemingly more evident, Adelphia Communications Corporation committed illegal activity and violated distinct unethical standards by suspicious recordkeeping.
Adelphia Communications Corporation Scandal
Unethical Business Practices Research Assignment – PHI 301 In the late 1990’s, Adelphia Communications Corporation became the 6th largest telephone and cable television providers in the United States. The company’s founder and CEO John J. Rigas and his sons, Timothy, Michael and James, were charged with several white-collar crimes related to financial and securities fraud, in 2002. Adelphia Communications was headquartered in Coudersport, Pennsylvania, and was designated the parent
Unethical Business Practices Research Assignment
Abstract Historically, ethical values, relating to professional business practice, continually raises controversy for business owners/founders, shareholders and consumers. Ethical standards perpetually change because personal and societal values evolve, and adapt accordingly to modern day lifestyle. It is as essential to adhere to your profession’s ethics, as it is to denounce questionable conduct within your work place. Some unethical practices are difficult to identify because companies can justifiably defend its actions. For instance, media outlets recently publicized that in an effort to buy Time Warner Cable, Comcast paid millions of dollars to the House and Senate Judiciary Committees assigned to oversee the hearings associated with the deal. Some people question the effect these sizable “donations” have on the lawmakers’ ability to procure a fair transaction. Comcast defended its actions in a statement, “It is important for our customers, our employees and our shareholders that we participate in the political process. The majority of our PAC contributions are to the senators and members who represent our employees and customers.” (2014, March 10). Seemingly more evident, Adelphia Communications Corporation committed illegal activity and violated distinct unethical standards by suspicious recordkeeping.
Adelphia Communications Corporation Scandal
Unethical Business Practices Research Assignment – PHI 301 In the late 1990’s, Adelphia Communications Corporation became the 6th largest telephone and cable television providers in the United States. The company’s founder and CEO John J. Rigas and his sons, Timothy, Michael and James, were charged with several white-collar crimes related to financial and securities fraud, in 2002. Adelphia Communications was headquartered in Coudersport, Pennsylvania, and was designated the parent
References: Encyclopedia.com. (2003) "International Directory of Company Histories.” Retrieved on February 24, 2015 from Encyclopedia.com: http://www.encyclopedia.com/doc/1G2 United States Security and Exchange Commission. (2002). “Accounting and Auditing Enforcement Release No. 1599 / July 24, 2002”. Retrieved on February 24, 2015 from http://www.sec.gov/litigation/litreleases/lr17627.htm Kaiser, Tiffany. (2014) “Comcast Paying Millions to Solidify Time Warner Cable Acquisition” Retrieved from: http://www.dailytech.com/article34489.htm