Judge Orders Ex-Qwest CEO Nacchio To Prison

[The Straight Story]

Judge Orders Ex-Qwest CEO Nacchio To Prison

Former Baby Bell chief Joe Nacchio is to begin serving a six-year sentence this month at a minimum-security facility in Pennsylvania.

By W. David Gardner
InformationWeek
March 5, 2009 11:00 AM

The prison doors at Schuylkill Federal Correctional Institution in Pennsylvania are slated to close March 23 behind formerQwest (NYSE: Q) chief executive Joe Nacchio, who has been ordered to begin serving a six-year term at the minimum-security institution.

Nacchio is the latest major indicted executive of the telecommunications bubble to be sentenced for profiting from illegal insider stock trading. A leading figure in the go-go telecom era of the late 1990s and early 2000s, Nacchio joins Bernie Ebbers, WorldCom's former CEO, who is serving a 25-year sentence at Oakdale Federal Correctional Complex in Louisiana.

Nacchio was found guilty by a federal jury in Denver a year ago, but has so far avoided beginning a prison term as a series of appeals have dragged out. He still has a slim last-ditch chance to avoid or delay serving prison time if his attorneys can persuade the U.S. Supreme Court to hear his case -- an unlikely occurrence in the view of most legal experts.

U.S. District Court Judge Marcia Krieger this week ordered Nacchio to report to the Pennsylvania institution, which Nacchio had requested. "Travel will be at his own expense," Judge Krieger said. A New Jersey resident, Nacchio never set up a permanent address in Colorado while he was at the helm of the former Baby Bell.

http://www.informationweek.com/news/global-cio/legal/showArticle.jhtml?articleID=215800727

[CoffeeCat]

1. I HATE Qwest...they can suck it!

We signed up for Qwest's "Qwest For Life" Internet service. They told us the price would be $29.99 per
month for Internet service.

The only catch is that we had to commit to 2 years. We figured the price was great, so we did.

Until...they jacked up the rate. We called them on it, and they lowered it back down to $29.99. Then, they
raised it again. Then, they ignored our phone calls--even saying they would lower it back down, but then
didn't. We've given up calling them. They now say that "Qwest for Life" doesn't mean that the price stays
the same.

That's not what we were told.

We're paying $45 now. We were also told that if we tried to break the 2 year contract that we owed $300.

Jan 2010 can't come fast enough. Bastards.

[seafan]

2. Probably the REAL reason: Nacchio said "No" to Bush's demands for wiretapping.

Nacchio said "No" to Bush's demands for wiretapping.

[Touchdown]

3. While he did do that, he is a crook and stole from Qwest

He stole $100 Million from The pension fund and ran the company into the ground. USWest, the Bell company he bought was making Profits before he came around.

While telling the NSA to take a hike is laudable, Nacchio is still one more stinking rich corporate bastard that thinks he's entitled to steal from his workers and blame them for not having any more to steal.

In short, he's Madoff who told the Bushies to take a hike.