[Petronski]

This is Adelphia Communications, the organization recently clobbered, enron-like, by revelations there had been funny loans among/between management and the corporation.

They also own the Buffalo Sabres.

I think it's breaking news because it could (could?) signal a coming criminal crackdown by the Justice Department on CEOs who defraud the market/investors.

And Rigas is greek, not french.

[HAL9000]

Yes, it's breaking news-worthy.

I wonder how many other cable empires could be looking at federal charges?

Al Gore's buddies at Falcon Cable were pulling the same shanenigans as Adelphia - but Paul Allen's Charter Cable acquired Falcon and bailed them out a couple of years ago when it was on the verge of collapse.

[Corporate Law]

They used some of those funny loans to buy the Sabres. Adelphia is owed $150 million by the Sabres (the team is worth about $80 million). The NHL took over operations and will run the team until a buyer can be found. They want to stay in Buffalo, but look for the team to be playing in Portland, Oregon in 2003-2004.

[My Favorite Headache]

Before the Sabres fans get nuts in here...relax a little on this one. The NHL bailed them out for another year so they are not moving just yet. But there are some certain parts of North America COUGH Utah Cough that are looking at them.

[Greeklawyer]

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