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Stacie Hollywood

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Stacie Hollywood. Michelle Melnar. Monica Moerbe. Cassie Russo. Section 601. Qwest's Quest. Premier provider of full-time communications for people at home, work, ... – PowerPoint PPT presentation

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Title: Stacie Hollywood


1
  • Stacie Hollywood
  • Michelle Melnar
  • Monica Moerbe
  • Cassie Russo
  • Section 601

2
Qwests Quest
  • Premier provider of full-time communications for
    people at home, work, or on the move
  • Provides Internet, Multimedia, and voice services
    over its broadband fiber-optic network for more
    than 25 million customers
  • 4th largest long-distance company in the U.S.

3
Weve got Trouble.
  • Guns for Whiskey Exchange
  • The former CEO, Nacchio, promised investors
    earnings and revenue increases
  • Would require Qwest to become the most profitable
    company in the World
  • Bought and Sold Capacity and Fiber-Optic cables
    to other Companies

Other Fiber-Optic Companies
Qwest
4
Doesnt end there
  • Cozy and Conflicted Relationships
  • Corporate Executives promised sales to Suppliers,
    in exchange for Suppliers Stock
  • Stock was given to Executives before or during
    IPOs
  • Executives make millions

Purchases of Excess Supplies
Qwest
Suppliers
Suppliers Stocks to Executives
5
Hand in the Cookie Jar
  • Shareholders begin to Question Accounting
    Practices
  • SEC investigates Tele-com Industry
  • Global Crossing begins to Falter
  • Executives candidly discuss Capacity Swaps
  • Emails raise questions on Companies defenses
  • Auditors and Audit Committee Question Practices

6
Effects
  • Voluntarily Restated Revenues

7
Market Effects
2001 2002
2003 www.bigcharts.com
8
  • Questions?
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