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  1. #1
    "Motorola is flying high these days as a result of the coolness of its
    wireless phones, and also due to great revenues and profits. A sour
    note, though, has crept up recently. The SEC is investigating the
    company for possibly taking part in the Adelphia cable company scandal
    that landed its founder and his son in prison while forcing the company
    into bankruptcy. Comcast and Time Warner recently scooped up Adelphia
    assets in a bankruptcy fire sale.

    Adelphia alleges that Motorola participated in fraudulent transfers,
    avoidance of liens, and aiding and abetting fraud -- quite serious
    allegations against the company. Adelphia is reporting all the alleged
    fraud damaged incurred by Motorola to be in excess of $1 billion
    dollars. Not too soon after the announcement was made the SEC opened an
    investigation into possible Motorola practices when dealing with
    Adelphia."




    See More: Motorola...Swindle-rola




  2. #2
    John Navas
    Guest

    Re: Motorola...Swindle-rola

    On 10 Aug 2006 16:47:26 -0700, [email protected] wrote in
    <[email protected]>:

    >"Motorola is flying high these days as a result of the coolness of its
    >wireless phones, and also due to great revenues and profits. A sour
    >note, though, has crept up recently. The SEC is investigating the
    >company for possibly taking part in the Adelphia cable company scandal
    >that landed its founder and his son in prison while forcing the company
    >into bankruptcy. Comcast and Time Warner recently scooped up Adelphia
    >assets in a bankruptcy fire sale.
    >
    >Adelphia alleges that Motorola participated in fraudulent transfers,
    >avoidance of liens, and aiding and abetting fraud -- quite serious
    >allegations against the company. Adelphia is reporting all the alleged
    >fraud damaged incurred by Motorola to be in excess of $1 billion
    >dollars. Not too soon after the announcement was made the SEC opened an
    >investigation into possible Motorola practices when dealing with
    >Adelphia."


    That's a blog:
    <http://www.bloggingstocks.com/2006/08/07/motorola-questioned-for-possible-part-in-adelphia-fraud/>
    "Filed under: Deals, Bad news, Rumors..."

    Real news story:
    "Motorola Draws SEC Probe for Adelphia Business Ties"
    <http://biz.yahoo.com/ap/060804/motorola_sec_probe.html?.v=1>

    Motorola Inc., the world's second-largest cell phone maker, said it's
    involved in an ongoing investigation conducted by the Securities and
    Exchange Commission in connection with its business relationship with
    Adelphia Communications Corp.

    The Schaumburg, Ill.-based company disclosed the probe in an SEC
    filing Thursday. It didn't say whether it's a target of the
    investigation and didn't provide any other details.

    A Motorola spokesman on Friday wouldn't say whether the company is a
    target of the probe, and an SEC spokesman also declined to comment.

    ...

    Motorola spokeswoman Jennifer Weyrauch, in e-mailed responses to
    questions about the lawsuit Friday, said the company was "unaware of
    the fraudulent activities being conducted by the principals of
    Adelphia."

    The company also said it "played no role in Adelphia's decision on
    how to account for Adelphia's transactions," and that it was
    confident its own accounting of its transactions with Adelphia was in
    accordance with generally accepted accounting principles.

    [MORE]

    Given that the source of the accusations is in prison, and that SEC
    investigations such allegations are routine, I think it's a bit
    premature to assume Motorola was involved.

    --
    Best regards, FAQ FOR CINGULAR WIRELESS:
    John Navas <http://en.wikibooks.org/wiki/Cingular_Wireless_FAQ>



  3. #3
    Dave
    Guest

    Re: Motorola...Swindle-rola

    I find it highly unlikely that Motorola would participate in a cross
    company accounting scheme. There would be no benefit for them and only a
    downside.

    John Navas wrote:
    > On 10 Aug 2006 16:47:26 -0700, [email protected] wrote in
    > <[email protected]>:
    >
    >> "Motorola is flying high these days as a result of the coolness of its
    >> wireless phones, and also due to great revenues and profits. A sour
    >> note, though, has crept up recently. The SEC is investigating the
    >> company for possibly taking part in the Adelphia cable company scandal
    >> that landed its founder and his son in prison while forcing the company
    >> into bankruptcy. Comcast and Time Warner recently scooped up Adelphia
    >> assets in a bankruptcy fire sale.
    >>
    >> Adelphia alleges that Motorola participated in fraudulent transfers,
    >> avoidance of liens, and aiding and abetting fraud -- quite serious
    >> allegations against the company. Adelphia is reporting all the alleged
    >> fraud damaged incurred by Motorola to be in excess of $1 billion
    >> dollars. Not too soon after the announcement was made the SEC opened an
    >> investigation into possible Motorola practices when dealing with
    >> Adelphia."

    >
    > That's a blog:
    > <http://www.bloggingstocks.com/2006/08/07/motorola-questioned-for-possible-part-in-adelphia-fraud/>
    > "Filed under: Deals, Bad news, Rumors..."
    >
    > Real news story:
    > "Motorola Draws SEC Probe for Adelphia Business Ties"
    > <http://biz.yahoo.com/ap/060804/motorola_sec_probe.html?.v=1>
    >
    > Motorola Inc., the world's second-largest cell phone maker, said it's
    > involved in an ongoing investigation conducted by the Securities and
    > Exchange Commission in connection with its business relationship with
    > Adelphia Communications Corp.
    >
    > The Schaumburg, Ill.-based company disclosed the probe in an SEC
    > filing Thursday. It didn't say whether it's a target of the
    > investigation and didn't provide any other details.
    >
    > A Motorola spokesman on Friday wouldn't say whether the company is a
    > target of the probe, and an SEC spokesman also declined to comment.
    >
    > ...
    >
    > Motorola spokeswoman Jennifer Weyrauch, in e-mailed responses to
    > questions about the lawsuit Friday, said the company was "unaware of
    > the fraudulent activities being conducted by the principals of
    > Adelphia."
    >
    > The company also said it "played no role in Adelphia's decision on
    > how to account for Adelphia's transactions," and that it was
    > confident its own accounting of its transactions with Adelphia was in
    > accordance with generally accepted accounting principles.
    >
    > [MORE]
    >
    > Given that the source of the accusations is in prison, and that SEC
    > investigations such allegations are routine, I think it's a bit
    > premature to assume Motorola was involved.
    >




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