New Mexico Attorney General Gary King has asked state regulators to hold the line on rate increases sought by Qwest Communications International Inc. King claims Qwest's proposed rate increases hit those least able to afford them. He also says if the Public Regulation Commission does not order additional investment in high-speed Internet, rural New Mexicans will be faced with decreasing possibilities of getting access to this technology. The attorney general's request was made to the PRC on... Read Full Story
Qwest Communications International Inc. reported a 6 percent drop in third-quarter profit Wednesday as customers continue to give up traditional landline telephones. Qwest has been struggling to find ways to grow sales as its industry shrinks. It offers local phone service in 14 Western states and customers have been siphoned off by competition from cable and cell phone providers. This summer it fell behind CenturyLink into fourth place among U.S. phone companies by number of lines in... Read Full Story
NEW YORK (Reuters) - Qwest Communications International Inc <Q.N> posted quarterly revenue that was slightly below Wall Street expectations but its shares rose almost 4 percent as it increased its profit outlook for the year. While Qwest's revenue has been falling as consumers disconnect their home phones it has been cutting costs to help improve its profit outlook. The telephone operator reported a third-quarter net profit of $136 million, or 8 cents per share, compared with $145 million... Read Full Story
Fiber-optic network provider Qwest Communications International Inc. said Monday it will save about $100 million by stopping contributions to the pension plans of active managers and freezing their pay. The move to stop adding to pension benefits on Jan. 1 will save $60 million in 2010, while declining merit pay increases will save $35 million next year, it said. Combined with changes to benefits of employee health plans and life insurance, total savings will amount to about $100 million in... Read Full Story
Qwest Communications International is reporting a drop in third-quarter profit as customers continue to give up traditional landline telephones. The telecommunications company based in Denver also said it expects full-year earnings before interest, taxes, depreciation and amortization to hit the top end of its previous forecast. Qwest said Wednesday it earned $136 million, or 8 cents per share, in the three months ended Sept. 30. That's down from $145 million, or 8 cents per share, a year... Read Full Story
Qwest Communications International Inc. said Thursday it will be ending its cell phone service on Oct. 31. The phone company said customers who switch to another carrier before the end of the month will be able to transfer their current phone numbers. But those who don't switch by the deadline will forfeit their mobile phone numbers. Customers won't be charged an early termination fee. Qwest said it's an authorized agent of Verizon Wireless. Customers who switch to Verizon Wireless will be... Read Full Story
NEW YORK (Reuters) - Qwest Communications International Inc said it has eliminated tens of thousands of dollars of annual payments to cover expenses of its chief executive and other top officials. In a U.S. Securities and Exchange Commission on Friday, the Denver-based phone company said it has ended annual "flexible benefit payments" that it has been awarding to Chief Executive Edward Mueller and its chief operating officer, chief financial officer and general counsel. For 2009, the cash... Read Full Story
Qwest Communications will no longer give its five top executives tens of thousands of dollars a year to pay for expenses like club memberships. Qwest said it was eliminating the allowances in a filing on Friday. A shareholder criticized the perk during the company's annual meeting in May. Qwest spokeswoman Diane Reberger said the allowances were being eliminated "to simplify our executive compensation structure and to provide shareholders more transparency." Qwest CEO Ed Mueller received the... Read Full Story
The chief executive of Qwest Communications International Inc., Edward Mueller, received compensation in 2008 valued at $11.4 million, according to a regulatory filing Friday. That was less than the $17.4 million he received for the previous year, when he joined the Denver-based phone company and received a large amount of stock and options as a sign-on bonus. Mueller's 2008 pay is smaller than, but comparable to, the packages taken home by the heads of AT&T Inc. and Verizon Communications... Read Full Story
Qwest sees Q1 revs "modestly lower" than consensus estimates Reuters NEW YORK, April 7, (Reuters) - Qwest Communications International Inc's (QN) first quarter consolidated revenue will be modestly lower than consensus analyst estimates, the company said in a statement on Tuesday. Qwest Warns of Lower Revenue Wall Street Journal Qwest sees 1st-qtr sales missing Street The Associated Press Bizjournals.com - Bloomberg - MarketWatch all 114 news articles Read Full Story
