cables

SEC nabs Nacchio

It's now official. The Securities and Exchange Commission has filed a lawsuit against Joseph Nacchio, the former CEO of Qwest Communications International alleging fraud and other securities violations.

The SEC alleges that under the leadership of Nacchio, Qwest engaged in a complex scheme to improperly record more than $3 billion in revenue and exclude some $17.3 million in expenses in its quarterly reports from 1999 to 2002. The agency wants Nacchio and the other top executives named in the suit to return any fraudulently obtained profits, with interest.

I think this sounds like a terrific idea. In fact, … Read more

Broadband Surf Report: March 16

Our daily look at telecom news around the Web:

Wireless carriers post rapid growth in ring-tone, game revenues--Techweb

California city to test wireless on buses--Mobile Pipeline

RIM, NTP settle patent suit for $450 million--eWeek

Motorola moves on mesh networking--Unstrung reports, and Daily Wireless gets technical.

A call to mobilize biz apps--eWeek

Comment on one of these stories? A link we missed that you want to post? We'll see you on the comments page ...

Martin to be named FCC head

The White House is expected to name Kevin Martin as the new chairman of the Federal Communications Commission, according to a report on the Wall Street Journal's website.

Many folks, including New.com's own Declan McCullagh, expected Martin to take over the position after Michael Powell said he would resign.

Martin has had close ties with the Bush administration, working on President Bush's election campaign and his transition team. Martin became a commissioner to the FCC in 2001.

Lessons from Bernie Ebbers

The verdict is finally in.

Bernard Ebbers, the former WorldCom CEO, was convicted on nine counts of fraud on Tuesday, including securities fraud, filing false reports, and conspiracy.

After more than a week of deliberations, the jury handed down its verdict, which could land Ebbers in a federal prison for the rest of his life. The convictions collectively carry a maximum penalty of 85 years in prison. Sentencing is set for June 13.

The New York Times wrote that Ebbers' conviction was a "major victory for the government." Journalists and pundits say the verdict will serve as a … Read more

Broadband Surf Report: March 15

On the Ides of March, our daily look at telecom news around the Web:

Skype enjoys the hype--Infoworld

AT&T exec: WiMax is the 4G wireless technology--Infoworld

Businesses bullish on VoIP, but consumers remain leery: survey--Networking Pipeline

Vendors pushing beyond 3G for faster speeds--Mobile Pipeline

Comment on one of these stories? A link we missed that you want to post? We'll see you on the comments page ...

Broadband Surf Report: March 14

As the CTIA Wireless show kicks off in New Orleans, we take our daily look at telecom news around the Web:

VoIP spam storm looms--Broadband Reports

Phone company mergers win on Capitol Hill--eWeek

AOL helps usher in VoIP's growth spurt--Telephony Online

Nextel launches GPS-based 'find-me' service--Mobile Pipeline

Companies start WiMax compatibility testing--Daily Wireless

Russian communists turn to text messaging--Associated Press

Sprint offers wireless data guarantees to enterprises--Networking Pipeline

Comment on one of these stories? A link we missed that you want to post? We'll see you on the comments page ...

It's good to be Dave Dorman

Anyway you look at it, AT&T's CEO Dave Dorman will make out like a bandit after the proposed merger between AT&T and SBC Communications is finalized. On Friday, AT&T and SBC filed their proxy statements with the Securities and Exchange Commission disclosing details of Dorman's contract with the company.

When the $16 billion merger was announced in January, SBC and AT&T said Dorman would stay on as president of the newly combined company. But if he doesn't become CEO after SBC's current CEO Edward Whitacre Jr. retires, which … Read more

Qwest expected to sweeten its offer for MCI

Negotiations between Qwest and MCI are getting down to the wire, as a March 17th deadline looms.

The Wall Street Journal reported on Monday that Qwest is expected to raise its bid to buy MCI. It's not known yet how much Qwest will sweeten the deal, but it's expected to increase the cash portion of the offer, according to the article.

Qwest, which revised its initial bid, has already offered $8 billion for MCI, more than $1 billion above the accepted bid from Verizon Communications. Since Qwest made public information about its intitial and revised offers, shareholders have … Read more

Broadband Surf Report: March 11

Our daily look at telecom news around the Web:

FCC slaps 'truth in billing' guidelines to cell phones--USA Today

Newest Bluetooth Gadget: Cows--Mobile Pipeline brings us the day's most entertaining headline.

EchoStar facing probe: Ergen, friend scrutinized--Denver Post

FCC opens more spectrum for WISPS: A big plus for rural broadband in America--Broadband Reports

Ultra-wideband proposal gets government green light--Mobile Pipeline (or eWeek)

VoIP parasites take heart: Converged services seen as key--Light Reading

Skype signs millionth paid VoIP user--Networking Pipeline

Aruba plots open source--Unstrung

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Party over for former telecom execs

Five years after the drunken telecommunications spending craze ended, the industry is still cleaning up after the party. On Friday, the Wall Street Journal reported that the Securities and Exchange Commission plans to file civil charges against Joseph Nacchio, the former CEO of Qwest Communications, as early as next week.

It's little surprise that regulators would come after Nacchio, since it's no secret that he and several other Qwest executives have been under investigation for some time. The exact charges of the SEC case aren't yet known, but the SEC is expected to accuse Nacchio of falsely … Read more