AUSWR
The Association of U S West Retirees
 

 

 

Qwest board may shrink from 13 to 11 after meeting
Founder Philip Anschutz and Anschutz Co. president Cannon Harvey have said they won't seek re-election.
By Beth Potter, Staff Writer
Denver Post
Thursday, March 16, 2006

Qwest's 13-member board of directors is expected to shrink to 11 after its upcoming shareholder meeting.

Qwest rules allow for as few as six directors and as many as 17 on its board.

"If the board feels it needs to adjust its size, it will," said Qwest spokesman Bob Toevs, declining to elaborate further.

Company founder Philip Anschutz and Anschutz Co. president Cannon "Cy" Harvey said this month they will not stand for re-election to the board at the company's annual meeting.  Both are longtime directors.

No shareholder meeting date has been announced, although it's expected in either late April or early May.

Five board members have left in the past two years.

Caroline "Caz" Matthews, president of Blue Cross and Blue Shield of Georgia, and R. David Hoover, chairman, president and chief executive of Broomfield's Ball Corp., were the board's most recent additions in December.

Qwest pays its directors $50,000 per year to attend 12 board meetings and 40,000 annual stock options, which would be worth $274,800 at Wednesday's closing stock price of $6.87.  Stock options are issued once a year and vest four years later.

Members new to the board in 2005 received 48,000 stock options with a strike price of $4.15.

Staff writer Beth Potter can be reached at 303-820-1503 or bpotter@denverpost.com.

http://www.denverpost.com/business/ci_3606281
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Notebaert backs Internet service levels
The Qwest CEO addresses "network neutrality" and says that's different from paying for premium services.
By Beth Potter, Staff Writer
Denver Post
Thursday, March 16, 2006

Companies should have the option to pay for a "competitive edge" online, Qwest chief executive Richard Notebaert said Wednesday.

Notebaert's comments at a Voice Over the Net conference in San Jose, CA, come as the battle heats up between phone and Internet companies over "network neutrality."

He said restricting Internet traffic is different from offering a higher price for Internet service to certain companies.

"Net neutrality really means that there should be no impediment to traffic," said Notebaert, according to CNET News.com.

"Never has it been intended to mean that companies can't reach commercial agreements with each other to enhance service," the head of the Denver-based phone company said.

Lawmakers are developing federal rules to maintain so-called Internet neutrality.  The issue has heated up as Internet-based companies such as Google and Amazon complain that they shouldn't have to pay higher rates to get premium service.

There's speculation that phone companies and other providers of high-speed Internet access are considering a two-tiered Internet, in which companies that rely on the Web for business would pay a higher price for the large amounts of Internet bandwidth they use, according to CNET News.

Notebaert said if online bookstore Amazon paid Qwest for a particular service, it would be like catalog company L. L. Bean paying Federal Express and UPS during the holiday season to offer free shipping to customers.

Staff writer Beth Potter can be reached at 303-820-1503 or bpotter@denverpost.com

http://www.denverpost.com/business/ci_3606280