The Adelphia Scandal
In 1952, John Rigas purchased his own cable connection company. By late 1990's, he had flipped it in to the sixth major cable company in the United States with 5. six million clients. The business was always work as a relatives style business which led to fraudulent works among family members and higher level business owners. The family members has been charged of taking $3. you billion from Adelphia and it is now facing criminal expenses. Adelphia was forced to document chapter 11 bankruptcy and as of April 24, 2005, the new panel of directors made the decision to be able to up the organization and sell it. The Adelphia scandal is definitely 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 market as a whole.
The word exploit means " to use unfairly for your own advantage" (Mish 267). The Rigas family used and coerced employees by stealing $3. 1 billion from the Adelphia Corporation for their own personal employ. An example of the Rigas family exploiting an employee is once John Rigas asked an accountant los angeles to take out a $20, 1000 loan inside the accountant's name. John Rigas never paid out him backside. The scrivener only manufactured $40, 000 at the time. Kant argues, " persons should be treated while ends and not purely since means to the ends of others" (Chapter One 22). I personally think John Rigas taking the money from the scrivener is a ways to the end of others. In this case, other folks would be the documentalist. Rigas was clearly making use of the accountant to his edge. He had simply no other purpose than to find the money to get himself. Consequently , the scrivener is being utilized purely for the advantage of Steve Rigas. Not only did the Rigas relatives exploit all their employees, but in reality damaged the reputation of their particular employees. The Rigas relatives destroyed each of the employee's trustworthiness when they made a decision they would steal money from the Adelphia Corporation. The way they did this was when these types of...
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