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To: Kathy Riley who wrote (8823)7/24/2002 12:42:00 PM
From: Bucky Katt  Read Replies (1) | Respond to of 48461
 
NEM & AU got cheap this morn, working on
>2.50 ea....

I think former ceo's, like the Adelphia people coming out in cuffs this morn is more important than sign-offs at this point...

Closed out all my long index trades, and the GAB....I am happy with the $ results..
Maybe I will play some more after lunch, maybe I will go sailing...
____________________________

NEW YORK (Reuters) - Three members of the founding family of troubled cable operator Adelphia Communications Corp. were arrested on Wednesday as government officials claimed they "looted" the company they created over 50 years ago.
(sounds like SOP/SNAFU for corporate America)
(looted)




Two other former executives also were arrested on Wednesday on federal securities and bank fraud charges.

The complaint, unsealed in Manhattan federal court, accuses former Chief Executive John Rigas and his family of "using the company as the Rigas family's personal piggy bank at the expense of public investors and creditors."

John Rigas and his sons -- former Chief Financial Officer Timothy and former executive vice president of operations Michael -- were arrested early Wednesday morning and are expected to be presented in Manhattan federal court later today.

Two other former executives -- former vice president of finance, James Brown, and Michael Mulcahey, former director of internal reporting of treasury functions -- were arrested in Pennsylvania and are expected to be presented in court in Williamsport, Pa.

The lengthy complaint alleges the defendants conspired to commit securities, wire, and bank fraud.

The Justice Department said on Wednesday that Deputy Attorney General Larry Thompson would hold a press conference at 11:00 a.m. EDT in Washington, D.C. on the arrests.

The executives resigned from Adelphia, which filed for Chapter 11 bankruptcy protection last month, following the disclosure of billions of dollars of off-balance-sheet loans guaranteed by the company to the Rigas family, allegations of overstated earnings, and questions about the company's accounting methods.

Adelphia has been the target of investigations by federal grand juries in Pennsylvania and New York and a probe by the U.S. Securities And Exchange Commission. H



To: Kathy Riley who wrote (8823)7/24/2002 4:30:34 PM
From: Bucky Katt  Read Replies (1) | Respond to of 48461
 
Since the Adelphia folks turned out to be our Helena signal, (with help from the PPT) here is another bit of William S.>


"What a piece of work is man!

How noble in reason, how infinite in faculties, in form and moving, how express and admirable, in action how like an angel, in apprehension, how like a god! The beauty of the world! The paragon of animals!
And yet, to me, what is this quintessence of dust?
Man delights not me; no, nor woman neither, though by your smiling you seem to say so."

--From Hamlet (II, ii, 115-117)

Hamlet's murderous uncle the King has called for the prince's university friends Rosencrantz and Guildenstern, seeking their opinion on the source of Hamlet's depression and madness. In this scene in which the king, the friends, Hamlet, Polonius and various ambassadors go in and out, Hamlet addresses Rosencrantz and Guildenstern, forcing them to admit that they have not come out of pure friendship and concern, but because they were summoned. He describes his own recent mood in the classical terms of true depression: "I have lost all my mirth….the earth….seems…..sterile". He bounces back and forth between admiration at the nobility and beauty of man and his own disillusionment at how evil man can be. After uttering the words above he calls man "a quintessence of dust", revealing the true depth of his depression and foreshadowing his suicidal feelings.


For those that aren't following our now famous RatDog version of Shakespeare, here is yesterdays act>
Message 17783034