Porn Valley- As you’ve probably noticed, you don’t get all the channels that you’d like with Adelphia Cable and you’re paying through the ass for the ones you’ve got. There is a reason. You’re knocking off the debt accumulated by Adelphia’s owner John Rigas who goes on trial this month in Manhattan’s federal courthouse.
In Rigas’ never ending bid to live the lavish lifestyle of executives dipping into the till, Adelphia customers coughed up $150 million lent to his money-losing hockey team, the Buffalo Sabres. Customers also spent $3 million on a vanity project called ”Songcatcher,” a movie produced by Rigas’s daughter, Ellen. Then there was the $13 million plowed into an unfinished golf course, a pet project of his son Tim, who had memberships in some 12 other golf clubs courtesy of Adelphia as well. Millions more were squandered by the Rigases’ use of the corporate Gulfstream III as a family taxi, particularly to shuttle John’s wife, Doris, on shopping trips.
The list goes on but the Rigas family claims the money was borrowed. What’s more, they argue that the bank loans were sanctioned by accountants, lawyers, outside directors and even regulators. You think you got balls? The Rigases have bigger balls…
