Adelphia

Troubled cable firm sees change in owners

The family that founded Adelphia Communications Corp. succumbed to immense pressure Thursday to relinquish control of the troubled cable television provider and turn over $1 billion in assets to cover its debts.

Under the agreement, founder John Rigas and sons Timothy, Michael and James resigned as directors of the nation’s sixth-largest cable provider, the company said. Rigas’ son-in-law, Peter Venetis, has also been asked to resign from the board.

Adelphia, based in Coudersport in rural northern Pennsylvania, has struggled since it disclosed in March that it had guaranteed billions of dollars in loans made to the Rigas family and family-owned partnerships that had not been reported on its books. Much of the money was used to buy Adelphia stock, which has since plummeted.

Aviation

Boeing expects sales to drop

The Boeing Co. will deliver eight fewer widebody jets to buyers next year than previously anticipated, says Alan Mulally, head of Boeing Commercial Airplanes.

Boeing still expects to deliver 275 to 300 commercial jets in 2003, but more will be 737s, a smaller twin-engine model with list prices of $40 million to $70 million, said Mulally, who is a Lawrence High School and Kansas University graduate. He gave the report Wednesday during an annual briefing for investment analysts in St. Louis. Analysts estimated the decrease in orders could cut widebody sales by $400 to $900 million.

Company officials said the falloff in widebody production has not changed Boeing’s plan to cut a total of 30,000 jobs in Mulally’s division. Boeing, with operations in Wichita, is the state’s largest private employer.

Trade

Sedgwick County seeking better relations with Mexico

Sedgwick County is taking steps to improve business relations with Mexico.

The county commission voted Wednesday to join an international association focused on trade along the Interstate 35 corridor.

The decision to join the North American International Trade Assn. comes a week after County Manager William Buchanan and commission chairman Ben Sciortino returned from the group’s annual convention in Santiago de Queretaro, Mexico.

The county will pay $5,000 in annual dues to belong to the association, which will have its convention in Wichita next year, Buchanan said.

Telecommunications

Sprint call centers get award

Sprint has received a top award for its call center operations from a major industry publication.

Call Center Magazine named the Sprint operations Call Center of the Year in its June issue. The magazine cited the company’s successes in productivity, retention and customer satisfaction.

Sprint PCS currently operates a call center in Lawrence, but it is closing the downtown facility at the end of this month. The closing of the center, located in the former Riverfront Mall, will eliminate approximately 500 jobs.

Accounting

Texas looks to ban Andersen

Texas’ accounting board filed a motion Thursday to revoke Arthur Andersen LLP’s accounting license in the state because of its role in Enron Corp.’s collapse, the board’s executive director said.

The Texas State Board of Public Accountancy also is seeking at least $1 million in fines and penalties.

The accountancy board reached its decision after a six-month investigation and is asking for a hearing on the recommendation before the State Office of Administrative Hearings. A date has not been set.