AUSWR
The Association of U S West Retirees
 

 

 

Notebaert says firm continuing along trajectory its executives promised
By Jeff Smith
Rocky Mountain News
Wednesday, November 1, 2006

Dick Notebaert, Qwest's chief executive officer, talked with the Rocky Mountain News on Tuesday after the Denver telco announced its third consecutive quarterly profit. Here are some excerpts:

How would you characterize the quarter?

I think it was a solid quarter. We continued the trajectory we said we would.

Phone lines are dropping at a steeper rate.

5.8 percent.  Again that's the best in class.  Verizon announced 7.5 percent (decline).

What about stockholder dividends? (Qwest recently announced a $2 billion stock buyback program, but many hoped the Denver telco would start issuing dividends as well.)

I'm staying on message, which basically is that the board of directors continues to monitor the situation, reviewing opportunities to enhance shareholder value.

Some retirees are saying you're valuing the stockholder constituency over them.  (Qwest recently said it would cap health and life insurance benefits for thousands of former nonunion workers)

My only observation is that the industry talked about price caps 17 years ago.  And we're not nearly as profitable as our peer group.  Nobody should have been surprised.    How many companies do you know provide life insurance for retirees?

http://www.rockymountainnews.com/drmn/tech/article/0,2777,DRMN_23910_5108498,00.html