July 30, 2002 |
A day after Qwest Communications International Inc. admitted misreporting at least $1.16 billion in revenue, the phone company said Monday it may take months to restate its financial reports. The improper bookkeeping, which will force restatement of financial results for 2000 and 2001, heightened fears that the Denver-based carrier may be felled by its $26 billion in debt. Investors sent the company's shares down as much as 26% during Wall Street's big rally Monday but reversed course enough for the stock to close at $1.49, down 1 cent.
August 14, 2007 |
Qwest Communications International Inc. named Edward Mueller to replace retiring Chief Executive Richard Notebaert. Mueller, 60, was once an executive at SBC Communications Inc. He will seek to halt customer defections from the Denver-based firm after five straight quarters of flat sales.
November 2, 2005 |
With a tentative $400-million settlement of a key shareholder lawsuit in hand, Qwest Communications said that it narrowed its margin of loss in the third quarter on the strength of sales and a $52-million government contract. Chief Executive Richard Notebaert said he hoped the settlement would pave the way for the Denver-based company to resolve a handful of remaining lawsuits stemming from an accounting scandal that forced Qwest to restate billions of dollars in revenue.
July 16, 2002 |
Qwest Communications International Inc., working to avert a year-end loan default, got offers for its phone-book unit from groups led by Welsh, Carson, Anderson & Stowe and Thomas H. Lee Partners. The biggest local-phone company in 14 Western U.S. states said talks for all or part of its yellow-pages business will conclude in the "near future." Qwest spokesman Steve Hammack declined to elaborate on the number or names of potential buyers.
February 17, 2005 |
Qwest Communications International Inc., the No. 4 U.S. local telephone company, said it offered $24.60 a share in cash and stock for MCI Inc., going public for the first time about its unsuccessful $8-billion takeover bid. The per-share offer, given to MCI directors Friday, consists of $15.50 in shares, $7.50 in cash and $1.60 in dividend payments, Qwest said in a Securities and Exchange Commission filing. MCI spurned the offer and accepted a $20.75-a-share bid from Verizon Communications Inc.
April 21, 1994 |
Ameritech Names Chairman: Richard C. Notebaert will succeed William L. Weiss, who is retiring. Notebaert, who was named Ameritech president in June and chief executive officer in January, will retain those titles. Weiss, who turns 65 on May 21, was named chairman emeritus, a title he will keep after he retires May 31. Notebaert, 46, joined Chicago-based Ameritech in 1983 and has held a variety of executive positions.