Posted on 05/12/2006 12:06:13 PM PDT by Pukin Dog
The telecom's former CEO has finally been indicted -- for fraud and insider trading. Getting a conviction will be no slam dunk He was the last major CEO connected with the telecom bust still under investigation. On Dec. 20, the feds came down on Joseph P. Nacchio. The 56-year-old former CEO of Qwest Communications (Q) was charged with 42 counts of securities fraud and insider trading. According to the eight-page indictment filed in federal court in Denver, Nacchio knew by August, 2000, that Qwest's publicly stated financial targets were extremely aggressive and meeting them would be a "huge stretch."
(Excerpt) Read more at businessweek.com ...
Quest=Qwest.
I pay 71.95 per month just for Comcast digital hi-def without the movie channels.
If I added phone and Internet I'd be at $150.
You got a deal.
Even after being caught they continued to lie about their customer levels.
IOW, they make Global Crossing seem like choir boys.
the new CEO , Notebaert , seems like a good steward.
but this is old news. (12/2005)
Nacchio resigned in 2002, Qwest could have cooperated since then if they wanted.
CORRECTION: Qwest = QWORST
I used to work for a dot-com. I think we called on all the dot-com crooks. Among them...
MCI
Adelphia
US West
QWest
Enron
We also called on dot-com allstars such as:
Flashcom
@Home
Covad
Northpoint(e?)
AT&T Broadband
Let's just say that we spent all of our time chasing companies that were either crooked or doomed. In turn, this meant that we were doomed.
Couldn't happen to a "nicer" guy!
Now, go get Ellen Hancock!
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