Copyright 2002 Gannett Company, Inc. USA TODAY…10/29/2002 From LexisNexis Local phone company Qwest Communications International Inc., attempting to cleanse its image and its books, said Monday that it will take a write-down of $40.8 billion and defer $531 million in revenue it booked prematurely in 2000 and 2001. The charge is much larger than the […]
Lawmakers grill Global, Qwest, WorldCom brass
Copyright 2002 Gannett Company, Inc. USA TODAY…03/22/2002 From LexisNexis WASHINGTON — Telecommunications executives defended their accounting practices Thursday as lawmakers questioned whether the companies used shady bookkeeping and misled investors. On the hot seat: Global Crossing, the fiber-optic carrier, which in January became the biggest telecom to file for Chapter 11 bankruptcy protection. The House […]