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Thirst for Truth
By David F. Carr
2003-08-01
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Thirst for Truth - ' Qwest Base Case' (
Page 4 of 4 )
Headquarters: 1801 California St., Denver, CO 80202
Phone: (303) 992-1400
Business: Local and long distance phone service, data services
Chief Information Officer: Al-Noor Ramji
Financials in 2002: Revenue of $15.5 billion, loss of $35.9 million (subject to restatement, Securities and Exchange Commission investigation).
Challenge: Restore faith in Qwest's financial management and forecasts.
Baseline Goals:
Achieve at least break-even free cash flow (operating cash flow, minus capital expenditures) in 2003.
Raise cash by selling off businesses without further damaging Qwest's stock value, which already has fallen from more than $50 per share to around $5.
Sell QwestDex directory business for $7 billion, to compensate for losing its cash flow.
Reduce Qwest's debt load, which topped $26 billion in 2002.
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