ANALYST'S WARNING HURT QWEST, SZELIGA TESTIFIES AFTER REPORT, NACCHIO INCREASED PRESSURE TO EXCEED EXPECTATIONS.(Business)

From: Rocky Mountain News (Denver, CO) | Date: March 16, 2004| Author: | Copyright information

Byline: Jeff Smith, Rocky Mountain News

Qwest's former chief financial officer testified Monday that pressure to meet quarterly targets increased after the investment banking firm Morgan Stanley issued a report critical of the telco's accounting in June 2001.

Robin Szeliga also testified that there was a "significant difference" between what Qwest's business units thought they could achieve in a particular quarter in 2001 and what former Chief Executive Joe Nacchio expected them to achieve.

Nacchio expected higher numbers and, Szeliga said, "in general Qwest had a ...

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