The Nacchio File
If you are interested in the story of how things play with Joe Nacchio’s criminal insider trading indictment I recommend you subscribe to the New West Networks Boulder feed as Richard Martin is writing a series titled The Nacchio File. Nacchio is at the top of the Qwest meltdown pyramid and – among the expected editorial chatter – the case will likely be covered heavily by the local (and national) news guys.
I was at Qwest headquarters a couple of times during the bubble for various meetings with senior Qwest execs (a few cases of potential M&A that never went anywhere, some executive recruiting, and a random hysterical meeting that will go down in history of one of the silliest experiences I’ve ever had at a corporate headquarters anywhere.)
I never met with Nacchio, but I bumped into him twice. One time he was hunkered over the Bloomberg that was prominently located in the center of the executive waiting area looking at the movements of the 100 or so stocks on the Qwest default screen. The other time I literally ran into him as I turned a corner as he was saying something like “nice sale today” to Weisberg. I was easily ignored as a long haired nerd wearing jeans – he likely thought I was up there fixing the executive network connectivity and – since I clearly had nothing to do with the Bloomberg machine (since it seemed to be working at the time) – wasn’t worthy of a greeting.