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Qwest Earnings Double

Qwest Communications International Inc. posted second-quarter earnings Wednesday that more than doubled from the same period last year. The Denver-based phone company said net income was $246 million, or 13 cents per share, compared with $117 million, or 6 cents per share, during the second quarter in 2006. It was the sixth consecutive quarter Qwest […]

RCN and Neon: A Match Made in Wholesale Heaven?

RCN Corp.s recent acquisition of NEON Communications Group could be an ideal pairing or a flop waiting to happen it all depends on who you talk to. To RCN, a cableco competing against Verizon Communications Inc. for triple-play subscribers, a merger with retailer/wholesaler NEON provides complementary customers and network assets. Together, RCN and NEON will […]

Fishing for Finance

After some slow years, private money again is fueling the communications sector. Its a breeze for the big-name companies to score funding, yet not so simple for lesser-known providers or resellers. Plus, if you dont want more than $10 million, major investment banks and venture capitalists wont even look at you. So what do you […]

Alcatel-Lucent Posts Another Loss

Alcatel-Lucent, still struggling from last years merger, posted its second straight quarterly loss Tuesday. The equipment maker reported an adjusted net loss of $460.3 million in the second quarter, or 37 cents per share, compared with what would have been a profit of $413 million, or 17 cents per share, from a year ago. The news sent […]

Nacchio Gets Six Years in Prison, Must Repay $52 Million

Joe Nacchio, Qwest Communications International Inc.s embattled former CEO, was sentenced July 27 to six years in prison. A federal judge on Monday also ordered Nacchio to repay $52 million within 15 days, pay a $19 million fine, cover most legal costs and serve two years of probation in addition to his prison time. Nacchio […]

Talkstern Names President

Mobile communications company Talkster Inc. has appointment Jim Ferguson president. Ferguson, who has more than two decades of telecom experience, was previously president of sales and marketing at Mpower, where he guided a team of 150 employees in marketing, sales, field support, engineering and product life cycle teams that delivered more than $200 million in […]

Judge: Nacchio Must Forfeit Assets of $52 Million

Qwest Communications International Inc.s former CEO, Joe Nacchio, must forfeit $52 million in assets he gained after illegal stock sales. The federal government has tried since late 2005 to force Nacchio to hand over those proceeds. A federal judge in Denver released the forfeiture order on Friday as Nacchios sentencing hearing was starting. Nacchio in […]

Apple Rebounds From AT&T News

Apple Inc. had the last laugh at the end of the week as its stock recovered from AT&T Inc.s iPhone sales hit and soared past the all-time high set on July 20. On Thursday afternoon, Apple shares were trading for $145.60, down from an earlier afternoon price of $147.18, but still surpassing last Fridays record […]

ShoreTel Prices 7.9 Million Shares

Nearly five months after announcing it would go public, ShoreTel Inc. on Tuesday priced its shares at $9.50 apiece. The enterprise IP phone systems provider is offering 7.9 million shares of common stock. It is trading on the Nasdaq Global Market under the ticker SHOR. ShoreTel also has given underwriters 30 days to buy up […]

News Briefs

Attorneys for former Qwest Communications International Inc. CEO Joe Nacchio have asked a Denver court for an acquittal, a new trial and a change of venue in his insider trading case. Nacchios attorneys said the jury that convicted him on 19 of 42 counts in April was exposed to public attacks on the defendant. A […]

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