Nacchio Case Enters Week 3
Former Qwest President Takes Stand For Prosecution
POSTED: 5:06 pm MDT April 2, 2007
UPDATED: 6:44 pm MDT April 2, 2007
DENVER -- The former president of Qwest testified Monday in the insider-trading trial of Joe Nacchio.Ex-executive Afschin Mohebbi told jurors that he informed Nacchio that Qwest's 2001 revenue goals were a "huge stretch".Mohebbi wrote several memos to Nacchio in late 2000, early 2001, detailing his concerns about the company's publicly stated financial goals.
Mohebbi stated that Qwest was not getting market respect, so he didn't know why employees and executives should continue "breaking our backs" to meet unrealistic goals when Qwest stock wasn't performing anyway.Mohebbi also said that during this time, Nacchio was unhappy and if a subordinate took Nacchio "head-on" about financial-related goals, it would sometimes result in "heated debates."The trial is expected to last another three weeks. A prosecutor told the judge Monday they are nearing the end of their case. The government could rest its case as early as Tuesday, according to one legal expert.The judge continued his no-nonsense tactics on the bench. He has little patience for anything that slows the trial down. At one point Monday, he told a defense attorney to "calm down. Chill, chill, chill."That prompted a few chuckles from those in the courtroom.
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