Word: qwest
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Phil Anschutz, the billionaire founder and former chairman of Qwest Communications, could be the next corporate chieftain forced into the congressional spotlight on boardroom greed. Anschutz has thus far avoided a hearing by privately convincing investigators he had no role in his company's day-to-day operations--including deals in which the Denver telephone company allegedly booked phantom revenue. But Qwest's ex-CEO Joseph Nacchio, in little-noticed testimony last week before the House Energy and Commerce Committee, said he had consulted Anschutz on all major decisions. Now committee staff members plan to question Anschutz again...
...Business; Democrats are not tax-and-spend liberals; Independents are not eccentric. Sometimes it turns out that the stereotypes are wrong - just not in the Arizona Governor's race. Republican Matt Salmon is running for Governor and until recently was cashing six-figure checks as a lobbyist for Qwest Communications and the city of Phoenix; Democrat Janet Napolitano is the current attorney general who might tax her way out of the state's potential $1 billion budget deficit; Independent Richard Mahoney is recovering after he impaled himself on a steel post while trying to put up a campaign sign...
Though by far the most visible, the WorldCom duo wasn't the only prey: telecom firm Qwest, already under investigation by the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ), is close to restating the past three years of earnings by more than $1 billion; apparel maker Warnaco is now in the SEC's cross hairs; and prosecutors were driving a hard bargain in plea negotiations with ImClone's ex-CEO Samuel Waksal, insisting that he accept at least seven years in prison on insider-trading charges and declining to spare his family members from prosecution...
...been eviscerated by an advertising recession, high debt loads and, in AOL Time Warner's case (down 55% this year), slowing Internet subscriber growth. AOL Time Warner shares have also been hit by investor aversion to companies with complex accounting stories, in the wake of bookkeeping scandals at WorldCom, Qwest and Adelphia Communications...
...Sprint in July 2000. In March the SEC launched a probe into how and why WorldCom had loaned Ebbers $366 million, most of which he ostensibly used to purchase WorldCom shares. The SEC also looked at the company's books just as scandals at other telecoms--Global Crossing and Qwest--were spooking investors. The loans led to Ebbers' ouster at the end of April (with a golden handshake worth $1.5 million a year for life). That's when Sidgmore took over and asked Cynthia Cooper, 37, vice president of internal audit, to take a close look at WorldCom's books...