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| Heads To Roll At Qwest -- News At 11 by Jeremy at 6:20 am EST, Apr 3, 2002 | |||
A growing number of analysts and investors are calling for the heads of Qwest Communications International Inc.'s management after several quarters of disappointing results and growing concerns about the telecommunications giant's accounting practices. ... Analyst: "I think it would be healthy if there was a change in management, especially if there is a restatement of earnings, which there will be." ... no risk of a bankruptcy filing by Qwest, which gets 80 percent of its revenue from its traditional local telephone business. [This "analyst" obviously doesn't read the Cook report.] Another analyst: "I consider Qwest management unethical and I believe they have tried to manipulate results ..." For a few years, Nacchio's strategy appeared to pay off as the company achieved a growth rate of 12 percent. Analysts now question whether its results reflected reality or creative accounting. | |||
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