Yesterday got our Adelphia cable bill and every 6 months they have been raising the rates and now has gone over $50 for ordinary TV.
So now we are forced to get Satellite (Live to far to use an Antenna)
So for real folks, which is better Dish or DirectTV? I'm leaning towards DirectTV (The DSL thing was a completely separate political issue).
Bankrupt Adelphia Posts Wider Loss
Thu Dec 26, 3:50 PM ET
WASHINGTON - Bankrupt cable operator Adelphia Communications Corp. posted a wider net loss of $111.5 million, or 44 cents a share, for November, compared with a loss of $104.6 million, or 42 cents a share, for October, according to a monthly operating report.
Revenue fell slightly to $281.3 million in November from $282.2 million in October, said the report, which was filed late Tuesday with the U.S. Bankruptcy Court in Manhattan.
Adelphia has been operating under Chapter 11 protection since June. The company filed for bankruptcy amid a widening federal criminal investigation into charges of fraud and self-dealing by senior management.
The investigation led to indictments in September of company founder John Rigas, two of his sons and two other executives. One of the executives, James R. Brown, former vice president of finance, has pleaded guilty to conspiracy, securities fraud and bank fraud and agreed to testify against the others, who have pleaded not guilty.
Adelphia Communications said in the November operating report that cash and cash equivalents at Nov. 30 were $426.7 million, down from $471.2 million at the beginning of the month.
Included in the November operating results was an $86.2 million expense for other-than-temporary impairment of investments and other assets.
The company said it had $300 million available under its $1.5 billion debtor-in-possession loan facility on Nov. 30, with $1 billion of availability subject to the company satisfying certain conditions.
Adelphia said that during the month it recorded an additional asset impairment reserve of $51.1 million in Devon Mobile Communications LP, in which Adelphia is a 49.9 percent limited partner. In late May, Adelphia notified the general partner of Devon that it would likely end some discretionary operational funding.
Devon, which through its units holds licenses to operate regional wireless telephone businesses in several states, filed for Chapter 11 in August.
Adelphia also recognized a $31.4 million impairment in November for loans and advances it had made to Niagara Frontier Hockey LP, a limited partnership owned by members of the Rigas family or entities they control. Niagara Frontier owns the Buffalo Sabres hockey team, which has reportedly been put up for sale and is being managed by the National Hockey League.
Adelphia reported operating income of $7.1 million during November, compared with a $64 million loss from operations in October. Net cash provided by operating activities in November was $18.6 million.
Also in November, Adelphia racked up $32.6 million in interest expenses.
As reported, the company's new independent accountant, PricewaterhouseCoopers LLP, hasn't completed audits of the company's financial statements for 2001 or re-audits for 1999 and 2000. Adelphia has said it expects to restate its 1999 and 2000 financial statements and its interim financial statements for 2001.
So now we are forced to get Satellite (Live to far to use an Antenna)
So for real folks, which is better Dish or DirectTV? I'm leaning towards DirectTV (The DSL thing was a completely separate political issue).
Bankrupt Adelphia Posts Wider Loss
Thu Dec 26, 3:50 PM ET
WASHINGTON - Bankrupt cable operator Adelphia Communications Corp. posted a wider net loss of $111.5 million, or 44 cents a share, for November, compared with a loss of $104.6 million, or 42 cents a share, for October, according to a monthly operating report.
Revenue fell slightly to $281.3 million in November from $282.2 million in October, said the report, which was filed late Tuesday with the U.S. Bankruptcy Court in Manhattan.
Adelphia has been operating under Chapter 11 protection since June. The company filed for bankruptcy amid a widening federal criminal investigation into charges of fraud and self-dealing by senior management.
The investigation led to indictments in September of company founder John Rigas, two of his sons and two other executives. One of the executives, James R. Brown, former vice president of finance, has pleaded guilty to conspiracy, securities fraud and bank fraud and agreed to testify against the others, who have pleaded not guilty.
Adelphia Communications said in the November operating report that cash and cash equivalents at Nov. 30 were $426.7 million, down from $471.2 million at the beginning of the month.
Included in the November operating results was an $86.2 million expense for other-than-temporary impairment of investments and other assets.
The company said it had $300 million available under its $1.5 billion debtor-in-possession loan facility on Nov. 30, with $1 billion of availability subject to the company satisfying certain conditions.
Adelphia said that during the month it recorded an additional asset impairment reserve of $51.1 million in Devon Mobile Communications LP, in which Adelphia is a 49.9 percent limited partner. In late May, Adelphia notified the general partner of Devon that it would likely end some discretionary operational funding.
Devon, which through its units holds licenses to operate regional wireless telephone businesses in several states, filed for Chapter 11 in August.
Adelphia also recognized a $31.4 million impairment in November for loans and advances it had made to Niagara Frontier Hockey LP, a limited partnership owned by members of the Rigas family or entities they control. Niagara Frontier owns the Buffalo Sabres hockey team, which has reportedly been put up for sale and is being managed by the National Hockey League.
Adelphia reported operating income of $7.1 million during November, compared with a $64 million loss from operations in October. Net cash provided by operating activities in November was $18.6 million.
Also in November, Adelphia racked up $32.6 million in interest expenses.
As reported, the company's new independent accountant, PricewaterhouseCoopers LLP, hasn't completed audits of the company's financial statements for 2001 or re-audits for 1999 and 2000. Adelphia has said it expects to restate its 1999 and 2000 financial statements and its interim financial statements for 2001.
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