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RCN gets the award for crummy employee Christmas gifts. The cable system overbuilder handed out pink slips to 70 people just before the holidays when it revealed that it would scale back its operations, a company spokeswoman said.

RCN says the reason for the pink slips is its capital is drying up.

RCN was focused on an aggressive and successful agenda of overbuilding existing cable systems with fiber optic networks. RCN has gone up against some of the biggest MSOs in the country, garnering around 1 million subscribers in New York, Philadelphia, Boston, Washington, D.C., Los Angeles, Chicago and San Francisco.

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