An overview of the many problems facing the communications company Qwest.
This paper is a case study of Qwest, an international company and long distance service provider in the field of communications. It provides a brief history of the company from its inception in 1995, describes the technology that it holds and discusses implications of its activities which are being investigated by the Securities and Exchange Commission and U.S. Attorney’s Office. It concludes by looking at what the future may hold for Qwest.
Qwest employs 57,000 employees and is responsible for a customer base of 30 million people, using 190,000 miles of wire. Their 2001 profits were in the 18 billion dollar range. This year, they report a 26 billion dollar deficit due to irregular and improper accounting practices.
In 1999 Qwest took over US West in Denver, helping to revitalize the long distance market. In stepped Phil Anschutz, whose fledgling Denver telecom, Qwest, made a hostile takeover bid for U S West. Coloradans were overjoyed. If Anschutz and then-CEO Joe Nacchio succeeded, Colorado money and Colorado jobs would stay in Colorado. (Reuteman)
In 1999 Qwest took over US West in Denver, helping to revitalize the long distance market. In stepped Phil Anschutz, whose fledgling Denver telecom, Qwest, made a hostile takeover bid for U S West. Coloradans were overjoyed. If Anschutz and then-CEO Joe Nacchio succeeded, Colorado money and Colorado jobs would stay in Colorado. (Reuteman)